Spotlight on New Members: PX Précinox SA

Shelly Ford

By Shelly Ford
Alchemist Editor and Digital Content Manager, LBMA

PX Précinox SA has joined LBMA as an Affiliate Member

What were the reasons for you wanting to join LBMA and what do you see as the key benefits of membership?

PX Précinox has been GDL Gold certified since 2012 and the company has also been active in the supply of gold from Artisanal and Small-scale Mines (ASM) since 2014.

It seemed only natural for us to join LBMA as an Affiliate Member in order to make a contribution to the association and participate more actively in its development.

Tell us about your company’s role in the precious metals market?

PX Précinox is active in the ASM and recycled gold supply chain with the aim of creating precious metal alloys for the watchmaking, jewellery, luxury and medical industries.

PX Précinox offers a wide range of alloys made by segregated gold from different sources.

What’s the background and history of the company?

The company was first founded in 1976 by Pierre Olivier Chave. Today, PX Group has around ten companies, most of which are based in Switzerland and Malaysia (Swiss Profile).

The Group’s core business is the manufacturing of semifinished products such as profiles, tubes and rings, in both precious and non-precious metals, from rolling, drawing and cutting operations. The Group also offers hard metal machining solutions for form, standard and threading tools. Finally, one of the pillars of its expertise also lies in its ability of alloy production and its gold recycling and refining capabilities.

Concerned about human and environmental values, the company supports the development of alternative and renewable energies.

Thanks to its PX Impact®label, the Group has developed its own responsible gold supply chain, which not only guarantees the traceability of ethical gold, from extraction to processing in Switzerland, but also contributes to a real improvement in the living conditions of local mining communities.

The Group is committed to responsible gold sourcing and works on a daily basis to reduce its environmental footprint, including measures to help artisanal mines abandon the use of mercury in their gold extraction.

What factors do you expect to impact your business in the short to long term?

The needs of our customers in terms of sustainable development and their Sustainable Development Goals (SDGs) have a direct influence on the sources of supply which must be transparent and traceable.

PX Précinox has been perfectly aligned with these concerns for many years and will continue to take steps in this direction.

What are your future plans for the business?

PX Précinox will pursue its strategy of opening up new sources of ASM supply by aiming to be a major contributor to LBMA. PX Précinox also intends to pursue its R&D developments to support recycled gold supply chains, in particular urban mining. The vision of PX Précinox is: “to be recognised as the essential independent, responsible, transparent and ethical refiner-processor”.

Shelly Ford

By Shelly Ford
Alchemist Editor and Digital Content Manager, LBMA

Shelly supports the Head of Communications to create and develop content across digital channels that engages the LBMA’s key stakeholders and supports the organisation’s vision and objectives. She brings a wealth of content creation, strategy, and campaign experience from previous roles in the professional and financial service industries, as well as Lloyd’s of London insurance market and publishing houses.