Proactive Monitoring tests refiners' technical competence in refining and assaying to ensure that the high standards required for LBMA Good Delivery List accreditation are maintained. If a refiner’s bars are not routinely encountered in the London vaults then evidence of bar casting capabilities must be demonstrated.
Proactive Monitoring is compulsory for all LBMA Good Delivery refiners.
Overview of the Proactive Monitoring (PAM) Programme
The PAM programme reviews the assaying competence of refiners on a three-yearly basis. Three years after the date of original listing, refiners receive a letter from LBMA instructing them to participate in the programme.
To assist LBMA with the programme, a number of supervisors are appointed to witness the dip-sampling operation that provides the samples for testing by LBMA’s Referees.
PAM Assay Testing Process
Gold and silver refiners are required to undergo a supervised dip sampling process taken from a normal melt. Two of the samples are shipped to LBMA to be check assayed by LBMA’s Referees whilst the remainder stay on site. The refiner submits its own analysis of one sample, which is then compared with the Referee’s results to determine a pass or a fail.
All gold refiners must be capable of assaying within the range of 995-999.9. Those which normally only produce four-nines gold are therefore required to purchase a set of six gold reference samples from LBMA. These samples cover the full range from 995 and above. The refiner submits its assay results to LBMA for comparison with the mean assay values previously provided by the referee. Full details of this process are explained in Annex I of the Good Delivery Rules.
Details of a refiner’s most recent PAM activity are shown in the Good Delivery Lists.