Government Operations committee  We do both. In particular, for engravers we have a very intensive apprenticeship program because there isn't that much demand for engravers. Even in the trades in Winnipeg, yes, we have an apprenticeship program. But we're at the point where we have to engage search firms to hire electricians in Winnipeg now.

Government Operations committee  I don't think it will have an impact on the people here in Canada except in a positive way. Our ability to go out and get new business from foreign governments is a function in part of their faith in the Canadian Mint and our capacity to produce the product in a timely way. So the extent that we have a business relationship with this plant in Tennessee, Jarden, for plating, means there's greater faith in our ability to actually deliver the product.

Government Operations committee  Most of the work is done in Canada, either in Ottawa or in Winnipeg, but we do have a particular contract with Thailand. We make the one and two baht coins for Thailand. We had some of that coined in an idle mint in India using our quality controls and our people on-site to make sure the quality was satisfactory to us.

Government Operations committee  That's right.

Government Operations committee  That's an excellent question. It's one we're struggling with now, and one the board is struggling with. As was pointed out earlier, we have increased our capital spending, and we plan to continue at that higher level. A lot of the presses that we have in Winnipeg are really quite old.

Government Operations committee  That's a good question. When I first joined the Mint on June 12, I met with the staff on June 12 in Ottawa. On June 13 I went out to Winnipeg to meet the staff, because they're always interested in who the new person is. It's funny, the flavour I had in Ottawa was the same flavour I had in Winnipeg.

Government Operations committee  Actually, we have a discount in the boutique for Mint employees, but not on collector or circulation coins.

Government Operations committee  I think the average age at the Mint is 37 to 42. That's a bit lower than I thought it was going to be. It looks younger and younger to me every day. I think one of the reasons is that we had a fairly significant expansion in Winnipeg. That tended to lower the average age of the workforce generally.

Government Operations committee  The New Zealand case is something we worked very carefully on. New Zealand decided to change all of their coins. They had already gotten rid of the penny, and they decided to get rid of the nickel as well. With the remaining coins—the 20¢ piece, the dime, and the 50¢ piece—they decided to change not the design of the coins themselves, but the content, to make them lighter, because people were complaining about the heavy coins.

Government Operations committee  Absolutely, we are. We are very excited. I personally see much of the future of the Royal Canadian Mint and some of the profitable growth that we will have as being in our foreign circulation business. Imagine a central banker who is faced with the prospect of having to pay 8¢ or 10¢ to make a nickel when we can make it for 2¢ or 3¢.

Government Operations committee  Yes. In Winnipeg in 2006, we produced a record number of coins, at 2.2 billion coins. When we started the year, we thought we would be producing about 1.4 billion. As the year wore on, the demand for Canadian circulation coinage kept increasing, to the point where we had to operate that Winnipeg plant flat out and even had to delay some of our foreign contracts so that we'd have the capacity to service the Canadian market.

Government Operations committee  I think the contract is stricter. Perhaps Marguerite Nadeau can give you more details on that subject.

Government Operations committee  The numbers show that about 42% of our revenues are from international sales. If I could, in following up to your observation, I'd just make a point. It's one that I think we, as Canadians, should collectively be quite proud of. A number of years ago, researchers at the Mint developed a new technology to make coins less expensively, as I explained earlier.

Government Operations committee  Thank you, madam. Following the controversy surrounding the expenses of the former President of the Royal Canadian Mint, the board of directors in place before my arrival decided to commission two studies, one by Price Waterhouse and the other by Osler, a Toronto law firm. The Osler report addresses processes and rules concerning expenses.

Government Operations committee  It does. It's for that reason that at one of the first town hall meetings I had with employees, I heard praise on the growth that we had in our revenues, but there was a challenge to the corporation, me and the employees, to have more profitable growth. I quite agree with you that we have to translate the growth in sales to a growth in the bottom line.