Question On Notice No. 238 asked in the Legislative Assembly on 13 October 2021 by Mr R.S. Love
Question Directed to the: Minister for Mines and Petroleum; Energy; Corrective Services
Parliament: 41 Session: 1
Question
I refer to Budget Paper 2, Volume 1, page 192, and I ask
:
(a) Can you please outline the history and project scope of the Silver Minting Mass Production Plant project;
(b) When did the Silver Minting Mass Production Plant start;
(c) What was the original project Budget;
(d) What was the total expenditure spent to deliver this project; and
(e) How heavily utilised is this asset today?
Answered on 16 November 2021
(a) The Silver Blank Production Facility was commissioned to increase the Corporation's silver blanking capacity so that the Corporation could better capitalise on frequent demand spikes in the market for silver coins. Overflow capacity is important because in times of extraordinary demand capacity constraints can be encountered.
(b) The project was approved in the November 2012 Board meeting and work begun shortly thereafter.
(c) This project was first included in the 2013-14 Budget process with a budget of $16 800 000. This included a building extension and associated infrastructure component of $7 000 000 and an equipment component of $9 800 000.
(d) The building extensions required to house the facility cost $7 119 000 and the equipment itself cost $9 712 000 resulting in a total cost of $16 831 000.
(e) The asset is heavily utilised as required.