For the first time in its 165-year history, the coveted Lexus Melbourne Cup has been handcrafted using pure Australian ABC Bullion gold sourced entirely from the Northern Territory. Marking another significant milestone for the Cup, the esteemed trophy has also reached a value of $1 million.
For more than a decade, the Cup has been handmade by artisan goldsmiths W.J. Sanders, the Sydney-based sister company to ABC Bullion, Australia’s leading precious metals specialist and the official manufacturer of the Lexus Melbourne Cup trophy.
The gold in the 2026 trophy has been sourced from Newmont’s Tanami operation, before being meticulously refined, poured and fabricated in Sydney by ABC Refinery and W.J. Sanders over more than 250 hours of expert craftsmanship.
The 2026 Lexus Melbourne Cup weighs over 1.8kg and contains almost 60 ounces of 18-carat gold. Comprising 44 individually shaped components, the Cup is a symbol of craftsmanship, excellence and national pride.
“There is something deeply meaningful about seeing Northern Territory gold brought to life in the form of the Melbourne Cup,” said Andrew Cochineas, CEO of Pallion. “From the mine to the finish line, the Cup is proudly Australian.”
Travelling more than 3,000 kilometres—from the Northern Territory’s Tanami Desert, Warlpiri country, to ABC Refinery in Sydney, then onto Flemington in Melbourne—the journey represents the uniquely Australian spirit that runs through the Lexus Melbourne Cup.
“This year’s Melbourne Cup traces an extraordinary journey from the heart of Northern Territory gold mining to the winner’s circle at Flemington,” added Cochineas. “The Cup is more than a sporting icon—it’s a celebration of the people and precious metals that define our nation, and a recognition of their excellence on a world stage.”
Since 2016, ABC Bullion has been the official trophy manufacturer for the Victoria Racing Club (VRC), responsible for producing the full suite of Melbourne Cup trophies, including the Harry White Whip and presentation trophies for the winning jockey, trainer, strapper and breeder. Each is handmade by W.J. Sanders craftspeople with Australian ABC Bullion precious metals, to exacting VRC standards.
The Cup itself is ornamentally hand-engraved and mounted on a timber base turned from Western Australian jarrah, further deepening its local provenance. Affectionately known as the ‘Loving Cup’ for its iconic tri-handled design symbolising unity between jockey, trainer and owner, the Melbourne Cup is often touted as the ‘People’s Cup’ for its ability to bring Australians together.
Each year, the Cup embarks on a journey across the globe as part of the Lexus Melbourne Cup Tour, a key VRC initiative. Since its launch in 2003, the tour has covered over one million kilometres, connected with tens of thousands of people and raised hundreds of thousands of dollars for local fundraising efforts. In 2026, the tour spans 36 destinations—from Kyoto to Rockhampton, Normandy to Wangaratta—uniting communities far and wide.
As the Cup returns to Flemington for the first Tuesday in November, it stands not only as a symbol of sporting glory, but as a powerful reminder of the materials, makers and moments that shape Australian identity and heritage.
