ABC Refinery has Gold and Silver LBMA Accreditation 

ABC Refinery has been appointed to the London Bullion Market Association’s (LBMA) Good Delivery List for silver.

Making ABC Refinery the only independent Australasian LBMA Good Delivery Gold & Silver refiner.

ABC Refinery is the exclusive manufacturer of ABC Bullion branded products. ABC Refinery is the largest silver refiner in the southern hemisphere with an annual silver refining capacity in excess of 800 tonnes. 

ABC Refinery’s appointment to this exclusive list is a testament to its ability to refine and produce silver products to LBMA level, universally regarded as the highest international standard.

Only refiners whose bars have been accredited by LBMA as meeting the exacting standards for trading on the global over-the-counter (OTC) market appear in the Good Delivery List.

For our clients, this means ABC Bullion gold and silver products now come with an international guarantee of purity, quality and convertibility.

  

What does LBMA accreditation mean?

LBMA is short for the London Bullion Market Association, and it plays an important role in the gold market.

The LBMA is the authority on buying gold from a trustworthy and reputable source. Called the ‘London Bullion Market Association’ because London was the original epicentre of global gold trading for centuries The Royal Mint first setting standards for gold and silver purity as early as the 14^th century.

However, as gold flowed from Brazil in the 17^th century, the demand for secure vaulting services increased. London’s prominence in global gold trading was formalised in 1732 when the Bank of England established their vaults in the city.

With the influx of gold from all corners of the world, it became apparent that official weights and measurements were required to ensure the smooth running of markets. In 1750, fixed sizes were introduced, and the Bank of England deemed only certain refineries could pour ‘good delivery bars’ to be used in trade.

The importance of managing international sizing standards increased in significance in the late 1980s, so the Bank of England created the London Bullion Market Association to oversee this. To date, the London over-the-counter market (often called London OTC) comprises nearly 70% of notional trading volume in the world.

As of today, the LBMA has over 120 members from 20 different countries. It ensures not just the purity and quality of all gold and silver used in trading…but the exact measurements of what each Good Delivery bar must be.

Very few companies around the world can say they have ‘good delivery’ accreditation. Even fewer can claim to have dual accreditation for both gold and silver.

Be assured of purity, quality and convertibility

Rooted in history, receiving LBMA accreditation is an enormous achievement for any refiner, and ABC Refinery is thrilled to be the only independent Australian refiner on this list.  

In order to be awarded Good Delivery, refineries undergo a significant and rigorous investigation process. This includes assessment of how precious metals are sourced, the supply chain, refining methods and procedures, modern slavery and human trafficking as well as respectful environmental practices. This is ayear-long process of inquiry and assessment from the LBMA as they decide if the applicant meets this strict criterion.

Being considered ‘Good Delivery’ by the LBMA for gold and silver, means buyers of precious metals can be assured of the purity, quality and convertibility of their gold and silver from ABC Bullion.

Purchasing gold or silver from a non-accredited refinery means your precious metal is not internationally recognised…nor is there any guarantee of quality.

Receiving this accreditation from the LBMA for silver means the ABC Refinery is a now a dual listed Good Delivery refinery.

Most importantly, it means any buyer of ABC Bullion products can be assured our gold and silver meet the highest international standards and are internationally recognised.


 

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

About Pallion
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