Australia's Perth Mint eyes Indian gold coins market
MUMBAI (Reuters) - Australia's gold coin maker, The Perth Mint, is scouting for deals in India and aims to log annual sales of two tonnes by 2010, a senior company official said on Friday.
"Our presence in India is growing and we would like it to grow much more," said Ron Currie, sales and marketing director from The Perth Mint, at an industry meeting.
"We haven't sold a great deal yet, but that is exactly why we are here, to find more customers."
His company was in talks with several banks that retail gold coins and by 2010, annual sales would have grown to 2 tonnes from the negligible sales now, Currie said.
In 2005, The Perth Mint had global sales of 4.5 tonnes of gold coins, he said.
Indian gold coins sale, categorized as 'investment' demand, now accounts for nearly a quarter of fresh gold imports of about 700 tonnes. Gold coins and bars gained popularity last year with volatility prices drawing investors to the metal.
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