Republic Metals Corporation added to the LBMA’s Silver Good Delivery List
Tuesday, August 12, 2014
The precious metals refinery of Republic Metals Corporation (“Republic”) of United States of America has been added to the LBMA’s Good Delivery List for silver with effect from 12th August, 2014.
Republic has satisfied the LBMA as to its ownership, history, production capability and financial standing. It has also passed the LBMA’s exhaustive testing procedures, under which its silver bars were examined and assayed by independent referees, and its own assaying capabilities were tested.
Republic is located in Miami. Its primary sources of feedstock are mined material as well as scrap materials sourced from the jewellery, dental and pawn sectors. Republic’s refined silver output is mainly in the form of cast bars.
The London Good Delivery List of Acceptable Refiners of gold and silver is maintained by the LBMA, by whom it is copyrighted. It lists those refineries whose gold and silver bars have been found, when originally tested, to meet the required standard for acceptability in the London bullion market. The List now includes 73 gold and 80 silver refiners.
About the London Bullion Market Association
The LBMA is the international trade association that represents the wholesale over-the-counter market for gold and silver bullion. The LBMA undertakes many activities on behalf of its members, including the setting of good delivery and refining standards, the organisation of conferences and other events, and serving as a point of contact for the regulatory authorities.