Pallion refinery division ABC Refinery has been appointed to the London Bullion Market Association’s (LBMA) Good Delivery list for gold.
The LBMA accreditation is given only to companies that meet the Association’s stringent assaying and bar quality criteria as well as responsible gold and net tangible asset requirements.
ABC Refinery’s inclusion in this exclusive list is recognition of the company’s ability to refine and produce gold products to LBMA level, universally regarded as the highest international standard.
As the only independent LBMA accredited gold refinery in Australia, ABC Refinery also reaffirms the position of its ABC Bullion brand as a cornerstone of the Australasian physical gold trading system.
According to Pallion CEO Andrew Cochineas, the accreditation is international recognition for the brand’s commitment to mining, refining and supplying superior gold product.
Australia being the second largest producer of gold globally, the addition of ABC Refinery to LBMA’s exclusive list of the world’s leading gold refiners gives primary producers in the region the benefit of choice.
As a wholly privately owned Australian business, ABC Refinery views the LBMA accreditation as an important milestone not only for the company but also the broader Pallion group.
ABC Refinery’s accreditation was preceded by the company having to satisfy the LBMA of its ownership, history, production capability and financial standing as well as pass the Association’s exhaustive technical testing procedures, under which ABC Bullion gold bars were examined and assayed by independent referees and its own assaying capabilities were also tested.
Cochineas said that all products bearing the ABC Bullion hallmark are produced by ABC Refinery according to LBMA standards.
Additionally, all products produced by the broader Pallion group are made with bullion sourced from an LBMA accredited source, ABC Refinery.
Located in Sydney, New South Wales, ABC Refinery uses mined material as well as scrap materials sourced from the industrial and jewellery sectors as its primary sources of feedstock. ABC Refinery’s refined gold output is in the form of cast bars as well as minted product.