The Mint achieved another record year with revenues of $2.2 billion. Net income declined to $33.8 million from the historic record set in 2009 due mainly to the anticipated decline in income from the alloy recovery program (ARP). Interest in coins produced to celebrate the Vancouver 2010 Olympic and Paralympic Winter Games peaked in early 2010 during the Games. The awarding of the athletes' medals provided millions of people around the world with a glimpse of the Mint's technical and artistic capabilities.
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As a national institution, the Royal Canadian Mint (RCM) has the mandate to produce circulation coins and to manage the coin distribution system for the Government of Canada. As well the RCM refines and produces precious metal products such as bullion and numismatic coins. Furthermore, the RCM designs and produces circulation coins for customers around the world. The RCM is thus a highly integrated, multi-product Corporation which strives to be relevant, progressive and innovative, and which is ever mindful of the importance of growth, its brand, its corporate social responsibility and profitability.
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On October 10, 2007, the Royal Canadian Mint released a market study on the future of the penny in Canada.
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The Royal Canadian Mint Special Examination Report by the Auditor General of Canada was completed in early 2005 and accepted by the Mint's Board of Directors.
Under Financial Administration Act, it is required that the Royal Canadian Mint, along with other Crown Corporations, undergo a special examination of their financial and management control and information systems, as well as management practices at least once every five years. Read the press release
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On October 26, 2005, the Board of Directors of the Royal Canadian Mint (RCM) released the findings of two independent reviews related to the expenditures incurred by the Honourable David C. Dingwall during his tenure as President and CEO of the Royal Canadian Mint.
The scope of the first review, conducted by PriceWaterhouseCoopers (PWC), was to determine the legitimacy of the expenses of the Office of the President and CEO from March 24, 2003 to September 28, 2005. The second review, led by Peter Dey of the legal firm Osler, Hoskin & Harcourt LLP, one of Canada's foremost experts in corporate governance, was undertaken to review the provisions of the corporate governance systems of the Royal Canadian Mint relating to the reimbursement of expenses incurred by the office of the CEO. Read the press release.
Download the reports here:
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