https://www.engineeringnews.co.za
Gold|Refinery|Service|Sustainable
Gold|Refinery|Service|Sustainable
gold|refinery|service|sustainable

London gold body aims to create secure global database

15th September 2023

By: Reuters

  

Font size: - +

The London Bullion Market Association (LBMA) on Thursday called for proposals from service firms to create a secure global database that would improve trust in the gold market's value chain.

Gold refineries must source gold responsibly under the industry body's accreditation requirements, allowing them access to London's bullion market, the world's largest.

The group's database of Russian gold bars held by banks in London helps to prevent sanctions evasion by Russian companies.

"Our goal is to establish an efficient platform combining information about the sources of LBMA Good Delivery metal, refinery production, vault holdings, and other key intelligence all within the context of enhanced standards for responsible and sustainable sourcing," LBMA CE Ruth Crowell said in a statement.

Edited by Reuters

Comments

Latest News

President Cyril Ramaphosa
Ramaphosa signs law allowing savers access to pension funds
Updated 2 hours 14 minutes ago By: Reuters

Showroom

Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Economic growth a top priority for GNU
Economic growth a top priority for GNU
19th July 2024 By: Creamer Media Reporter
Magazine round up | 19 July 2024
Magazine round up | 19 July 2024
19th July 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.299 0.361s - 190pq - 2rq
Subscribe Now