| Switzerland refines 70% of the world’s gold. |
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| According to LBMA, in 2017, 15% of global mined gold production was refined in Switzerland. |
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| Information on countries of origin is not collected. |
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| This information is always known and is sent to the regulator, the LBMA, who consolidates and publishes this information. |
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| The refiners do not visit mining sites. |
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| Refiners carry out regular visits to the area to evaluate risks. These visits are mandatory in the context of higher risk supply chains. |
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| The majority of mines operate illegally. |
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| Several studies maintain that 80 to 90% of global gold production comes from mines where activity is authorised and controlled. |
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| Swiss refineries are not subject to as many regulations as foreign refiners. |
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| LBMA refineries already apply the requirements of the EU Conflict Minerals Regulation (due diligence according to OECD guidance). Swiss refineries are subject to the LBA, unlike other countries, to the Commodity Trading regulations of the State Secretariat for Economic Affairs (SECO) and the Federal Department of Foreign Affairs (FDFA) and to the Precious Metals Control Act (PMCA), which is the strictest in the world. |
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