LBMA suspends Russian precious metals refinery

ArticleMiningMay 18, 2018 - 9:51:16 AM

LBMA suspends Russian precious metals refinery from 'good delivery' lists

The London Bullion Market Association said it had suspended the Ekaterinburg Non-Ferrous Metals Processing Plant from its gold and silver good delivery lists due to “ownership related issues”.

The refinery in Russia is controlled by Moscow-based conglomerate Renova Group, which along with its key shareholder, billionaire Viktor Vekselberg, was sanctioned by the United States on April 6.

The LBMA said in a notice the refinery would be removed from its active good delivery lists from May 14...

Source: Reuters Report

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