Melbourne City Council has denied a request from Mildura to relocate the "Yellow Peril" sculpture, officially known as Vault, to the regional town. The Mildura Rural City Council announced its intention to move the sculpture, created by Ron Robertson-Swann, from its current location outside the Australian Centre for Contemporary Art in Southbank to the Mildura Arts Centre. The proposal aims to place Vault alongside another of Robertson-Swann's works, Beethoven.

Lord Mayor Nick Reece of Melbourne stated that Vault will remain in the city. "The Ron Robertson-Swann Vault sculpture will be staying in Australia's arts capital of Melbourne," he said. Reece described the sculpture as a modern masterpiece, noting that public appreciation for it has increased over the years.

Originally installed in Melbourne's City Square in 1980, Vault was moved to its current site in 2002. The large, abstract sculpture made of yellow steel sparked controversy upon its installation, even drawing a comment from the late Queen Elizabeth II regarding its color.

Mildura tourism officials believe that acquiring Vault would enhance the town's reputation as a cultural destination. They have garnered support from Robertson-Swann for their campaign. However, Reece suggested that Mildura should consider creating its own iconic attraction, similar to other regional towns. "Tamworth has the Big Golden Guitar, Coffs Harbour the Big Banana," he said. "Maybe Mildura could have the Giant Grape or Giant Orange as an artistic drawcard for the city."

Reece indicated that if Mildura were willing to pay a significant price, the situation might be different. "It would have to be a very, very attractive price," he said. He also mentioned the possibility of loaning the sculpture to Mildura, noting that significant artworks often travel across Australia and the world. However, he confirmed that there are no plans for Melbourne to permanently transfer ownership of Vault to Mildura.

Vault was commissioned in 1978 for $70,000 and relocated in 2002 at a cost of approximately $50,000. Its current value is not publicly known, but it was added to the Victorian Heritage Register in 2024 due to its historical and aesthetic significance.

Mildura Rural City Council Mayor Ali Cupper expressed determination to continue advocating for the sculpture's relocation. "We're determined. We don't take 'no' for an answer easily and we will keep pushing," she said. Cupper emphasized that both Melbourne and Mildura are important cultural centers in Victoria. She suggested that Melbourne could lend Vault to Mildura as a gesture of goodwill, stating, "I don't think we should be paying anything for it."

If Vault were to be relocated, it would join 12 other sculptures at the Mildura Arts Centre, including Beethoven, which was created by Robertson-Swann in 1968. The Bring Vault Home campaign is part of a broader initiative to position Mildura as a new arts and culture capital, following last year's Tropical North Victoria campaign aimed at boosting tourism by 5 percent annually for four years.