Royal Canadian Mint Records Most Profitable Year in 2007Back to Listing
Ottawa, Ontario, April 28, 2008 – In 2007, the Royal Canadian Mint recorded an unprecedented profit of $30.7 million, almost double the previous year's figure. Throughout the year, it also leveraged its innovation advantage, strengthened strategic partnerships and positioned itself for future growth in the global marketplace.
“The past year was one of remarkable accomplishment for the Mint, and this success can be attributed to the dedication and commitment of each and every employee of the Corporation,” said Ian E. Bennett, President and CEO of the Royal Canadian Mint. “As we move forward, we will invest in our infrastructure, our world-renowned technology and in our employees – all of which will ensure our path to continued success.”
Achievements for the Royal Canadian Mint in 2007 included:
• An increase in revenue to $632.1 million;
• The production of 1.937 billion Canadian circulation coins;
• The expansion of the coin recycling program in Ontario and Quebec;
• As an Official Supporter of the Vancouver 2010 Olympic and Paralympic Winter Games, the launch of the first five circulation coins of its extensive Olympic commemorative coin program;
• The introduction of the world's first 100 kg 99999 gold bullion coin, with a face value of $1 million (certified by Guiness World Records) and a 99999 one-ounce Gold Maple Leaf coin;
• The issuing of innovative collector coins including the $20 sterling silver Crystal Snowflake coin, embedded with CRYSTALLIZED™ Swarovski Crystals and the world's first coin to employ plasma technology, which was produced to celebrate the 125th anniversary of the International Polar Year;
• The production of 2.2 billion coins for twelve countries including Ghana, Oman and Ethiopia. Contracts included demands for multi-ply coins, which were produced with the Mint's patented plating technology;
• Two coins winning in three categories in the prestigious Krause Publications Coin of the Year Awards ($50 Palladium Big Bear and Little Bear Constellation coin series and $5 Fine Silver “Pink Ribbon” coin); and
• The ranking among Canada's top 100 employers (Maclean's Magazine) and the country's top 10 family-friendly employers (Today's Parent), for the second consecutive year.
As the Royal Canadian Mint enters its second century of operations, it will evolve to meet customer needs and the demands of an ever-changing global marketplace. Increased commitment to R&D and the development of new partnerships and innovations will ensure its profitability and ongoing relevance as an enterprising Canadian corporation, both at home and abroad.
To read more from the Mint's 2007 Annual Report, entitled "In Anticipation of Profit", click here.
About the Royal Canadian Mint
The Royal Canadian Mint, which is celebrating its 100th anniversary in 2008, is the Crown Corporation responsible for the minting and distribution of Canada's circulation coins. An ISO 9001-2000 certified company, the Mint is recognized as one of the largest and most versatile mints in the world, offering a wide range of specialized, high quality coinage products and related services on an international scale. For more information on the Mint's history, its products and services, please visit www.mint.ca.
For more information, please contact:
Royal Canadian Mint
Tel: 613-993 9999