ABC Refinery Achieves Silver LBMA Accreditation
New export opportunities for Australian silver opened up by prestigious accreditation
Independent, Australian gold refinery, ABC Refinery has achieved a rare global feat – attaining London Bullion Market Association (LBMA) accreditation as a Good Delivery Silver refiner opening up a new pathway into the world’s biggest silver market. The accreditation is ABC Refinery’s second from the LBMA after its Good Delivery List appointment for gold in 2015.
The accreditation will give Australia’s silver producers wider access to international markets, while also ensuring greater value add is captured in Australia for one of our significant export industries.
ABC Refinery is the refining division of Pallion, Australasia’s largest independent precious metal services group. ABC Refinery is the largest silver refiner in the southern hemisphere with an annual silver refining capacity in excess of 800 tonnes.
The LBMA loco London market is the largest and oldest financial market for precious metals. ABC Refinery’s LBMA Good Delivery silver accreditation gives Australia access to the loco London market that trades over AUD$100bn of silver annually.
ABC Refinery’s appointment to the LBMA Good Delivery List for silver means that it has satisfied the LBMA as to its ownership, history, production capability and financial standing. It has also passed the LBMA’s exhaustive testing procedures, under which its silver bars were examined and assayed by independent referees, and its own assaying capabilities were tested.
Pallion Group Chief Commercial Officer David Woodford said the accreditation is international recognition for the brand’s commitment to refining and supplying superior, responsibly sourced precious metal product:
“As the largest silver refinery in the southern hemisphere, this accreditation is a testament to ABC Refinery’s ability to refine and produce silver products to LBMA level, universally regarded as the highest international standard.
“ABC Refinery and the broader Pallion Group are one of Australia’s largest manufacturers and exporters. We are proud to be significant contributors to the nation’s GDP, adding value to Australian sourced commodities through its proprietary refining manufacturing technologies.”
Commenting on ABC Refinery’s accreditation, Federal member for Grayndler and opposition leader The Hon. Anthony Albanese MP said:
“Right here in my electorate, ABC Refinery and Pallion Group directly employs hundreds and indirectly tens of thousands of Australians.
“ABC Refinery’s LBMA Good Delivery accreditations are living proof that Australia can have a globally significant and competitive smart manufacturing sector – where value is added right here in Australia. It’s a great example of how Australian expertise and technological leadership can contribute to a Future Made in Australia - ready to compete and beat the rest of the world”.
ABC Refinery is now the only independent Australasian LBMA Good Delivery Gold & Silver refiner, solidifying its position as the region’s world class refiner of choice. ABC Refinery is Australasia’s largest and most technologically advanced independent precious metal refinery and a global leader in environmentally friendly and responsibly sourced precious metal production. This accreditation means that ABC Refinery is now one of only 45 entities globally accredited as both a Gold and Silver LBMA Good Delivery Accredited Refiner. ABC Refinery is the exclusive producer of ABC Bullion gold and silver bullion products.
About ABC Refinery
ABC Refinery is Australasia’s pre-eminent independent precious metal assayer, refiner and mint. ABC Refinery is Australia’s only independent refinery accredited by the London Bullion Market Association and the Shanghai Gold Exchange. ABC Refinery is the refining division of Pallion, Australasia’s largest independent precious metal services group of companies. Pallion has been involved in the refining and processing of precious metals in Australia since 1951. See www.abcrefinery.com
Pallion designs, manufactures and distributes precious metal products and related services. Commencing operations in 1951, today it is the largest fully integrated precious metal services group in Australasia. Maintaining its headquarters in Sydney Australia, it is a privately-owned group of companies, with manufacturing facilities and offices across Australia, Hong Kong (SAR) and mainland China. Pallion provides the following services: Bullion; Refining and Minting; Casting and Jewellery; Fabricated Metals; Findings; and Vaulting. See www.pallion.com
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