Precious metals play a key role in many different industries. They form the basis for a range of products which enable us to have a modern lifestyle. Our members process precious metals from mines, industrial waste and scrap and transform them into bars and precious metal alloys for a broad range of downstream industries, like the watch and jewellery industry, for instance. The main work most members are involved in the field of processing and transforming precious raw materials. Some of our members are also specialized in physically dealing in precious metals or selling precious metal products.
Our members’ clients are partners involved in mining, banking or the industrial sector who provide material requiring processing and refining. Generally speaking, the precious metals remain the property of our clients in the course of the transactions described, so our members act purely as service providers.
The services our members provide involve multinational, medium-sized or small mining firms which mine precious metals from ore. Banks requiring material to be transformed into ingots and standard bars are also clients*. By contrast, industrial partners chiefly order specially tailored precious metal alloys and semi-finished products.
* These standards are defined by regulations published by the London Bullion Market Association (LBMA) which outline the physical characteristics of gold and silver bars.