Sustainable capital injection after mint changes hands

Media release
4 April, 2012

Sustainable capital injection after mint changes hands

New Zealand’s sole mint has a new owner.

Simon Harding, a Kiwi with a background in the international finance industry and business, has purchased Auckland-based New Zealand Mint.

Simon Harding is the managing director and Hayden Syers retains the role of chief operating officer. There are no staff changes.

Mr Harding took control of the mint from April 2. He has introduced new working capital to help fund expansion in the company’s existing global markets as well as a push into new territories.

Mr Harding graduated from Waikato University in 1987. He worked in the finance industry in London, New York and the Netherlands for 15 years before returning to New Zealand in 2003.

His plans for New Zealand’s sole precious metal mint include increased focus on global markets for gold and silver bullion, legal tender commemorative coins and medallions.

“Our long term goal is to make New Zealand Mint the boutique mint for the world,” Mr Harding says. “We’re agile, we’re privately owned and we already have some very strong relationships in global markets.

“Our ambitions lie in expanding our current markets in the US and Russia as well as breaking into new markets including in Asia. We also have a relationship with the government of Niue to administer its coin effigy rights so we will be looking to grow similar business to that in the minting arena.”

New Zealand Mint has a number of global alliances with major brands. They include licensing agreements to make commemorative coins for Nickelodeon’s SpongeBob SquarePants and Lucas Films for the Star Wars franchise. It also has minting licences with leading New Zealand photographer, clothing designer and businesswoman Anne Geddes.

“We have some exciting developments in the pipeline on the licensing side of the business and we are fully poised for growth. We expect 2012 to be a fruitful year,” says Mr Harding.

Simon Harding’s background includes positions as financial controller at London Futures and Options Exchange and senior vice president of New York-based IIR, the world’s largest conference and training company.

After returning to New Zealand he purchased the Auckland-based Elite International School of Beauty Therapy which he has since sold to an Australian private equity firm. Mr Harding also has commercial property interests and is on the boards of a number of private companies.

Ends

About The New Zealand Mint : The New Zealand Mint has been minting legal tender commemorative coins, gold bullion and medallions for more than four decades. As New Zealand's only precious metal mint and one of the first world mints to adopt the .9999 standard for gold coin purity, New Zealand Mint prides itself on high quality design and production work.

In 2009, New Zealand Mint opened the Bullion Exchange, the first of its kind in New Zealand which offers a comprehensive service for buying and selling gold and silver bullion as well as on-site insured storage. Leading the way with innovative coloured, silver and gold commemorative coins, New Zealand Mint is known globally for quality and design excellence. New Zealand Mint also produces several ranges of jewellery that cater to many tastes and styles, including the Boh Runga for New Zealand Mint collections.

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