ABC Refinery appointed to LBMA Good Delivery list for gold
4 December 2015: ABC Refinery, the refinery division of Pallion, has today been appointed to The London Bullion Market Association’s (LBMA) Good Delivery list for gold.
ABC Refinery’s appointment to this exclusive list is a testament to its ability to refine and produce gold products to LBMA level, universally regarded as the highest international standard. LBMA accreditation is given only to companies that meet the Association’s stringent assaying and bar quality criteria as well as its responsible gold and net tangible asset requirements.
The appointment makes ABC Refinery the only independent LBMA accredited gold refinery in Australia and reaffirms the position of the ABC Bullion brand as a cornerstone of the Australasian physical gold trading system.
Pallion CEO Andrew Cochineas said the accreditation is international recognition for the brand’s commitment to mining, refining and supplying superior gold product:
“ABC Refinery is delighted to be recognised amongst LBMA’s exclusive list of the world’s leading gold refiners. Australia is the second largest producer of gold globally and the addition of ABC Refinery to the LBMA good delivery list for gold gives primary producers in the region the benefit of choice.”
“As a wholly privately owned Australian business, LBMA accreditation is an important milestone not only for ABC Refinery but also the broader Pallion group which is a real Australian manufacturing success story.”
To be successful in attaining accreditation, ABC Refinery had to satisfy the LBMA of its ownership, history, production capability and financial standing. It also had to pass the LBMA’s exhaustive technical testing procedures, under which ABC Refinery’s ABC Bullion gold bars were examined and assayed by independent referees and its own assaying capabilities were tested.
“Testament to the Pallion commitment to quality, all products that bear the ABC Bullion hallmark are produced by ABC Refinery according to LBMA standards. And now our clients benefit from the comfort that all products produced by the broader Pallion group are made with bullion sourced from a LBMA accredited source, ABC Refinery” added Mr. Cochineas.
ABC Refinery is located in Sydney New South Wales Australia. Its primary sources of feedstock are mined material as well as scrap materials sourced from the industrial and jewellery sectors. ABC Refinery’s refined gold output is in the form of cast bars as well as minted product.
About ABC Refinery
ABC Refinery has been involved in the refining and processing of precious metals in Australia since 1978 and is the exclusive producer of ABC Bullion product which has become one of the cornerstones of the Australian physical gold trading system. Since then, ABC Refinery has developed into Australia’s largest and most technologically advanced independent precious metal refining, assaying and minting facility. ABC Refinery plays a fundamental role in Pallion’s fully vertically integrated model of precious metal services. 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 in Sydney, Melbourne, Brisbane and Perth as well as Hong Kong (SAR) and mainland China. Pallion is comprised of eight entities: ABC Bullion; ABC Refinery; Palloys; AGS|PJW; A&E Metals; Regentco; Goldenage International; and Custodian Vaults. These leading precious metal brands offer the following services: Bullion; Refining and Minting; Casting and Jewellery; Fabricated Metals; Findings; and Vaulting. See www.pallion.com
About the London Bullion Market Association
The London Good Delivery List of Acceptable Refiners of gold and silver is maintained by the LBMA, by whom it is copyrighted. It lists those refineries whose gold and silver bars have been found, when originally tested, to meet the required standard for acceptability in the London bullion market. The List now includes 73 gold and 82 silver refiners. The LBMA is the international trade association that represents the wholesale over-the-counter market for gold and silver bullion. The LBMA undertakes many activities on behalf of its members, including the setting of good delivery and refining standards, the organisation of conferences and other events and serving as a point of contact for the regulatory authorities. See www.lbma.org.uk
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