Mint reviewing allegations about tainted gold

The Royal Canadian Mint says it has initiated a full review in response to allegations some of its gold comes from a region of Colombia where drug cartels control mines.

Mint spokesperson Deneen Perrin says as soon as the mint learned of the allegations raised by the New York Times newspaper, it “immediately and fully” suspended the refining of any material from the supply chain in question.

In a report published Monday, the newspaper suggests some of the mint’s gold comes from Colombian mines controlled by the Clan del Golfo drug cartel.

The report says that before the Colombian gold arrives in Canada, a Texas intermediary mixes it with American gold and that the mint considers the resulting mix to be entirely North American.

Perrin says that of the more than five million ounces of rough gold refined by the mint last year, mixed material accounted for five per cent of total volumes.

She says the mint continuously reviews its business dealings and if an issue is found, as in this instance, it takes immediate action.

This report by The Canadian Press was first published April 27, 2026.