April 04, 2023

Committee News: Refiners' Committee

The Refiners' Committee met in March, 2023

The recent meeting of the Refiners' Committee continued discussions on several items, as outlined below:

Draft Sustainability & Responsible Sourcing Strategy

The meeting was provided with an overview of the new three-year strategy now that the previous three-year Responsible Sourcing Strategy comes to a close. The new strategy includes ‘Sustainability’ in the title in recognition of a broadening approach.

A focus page-turner meeting would be arranged w/c 3 April.

Intermediate Refiner Definition

The Committee continued the discussions on the definition and from the feedback received it was that the clear definition is a non-GDL refiner. The focus now turned to streamlining the process for GDL refiners to transact with intermediate refiners.

A focus meeting would be arranged to discuss this further.

Gold Bar Integrity

The meeting was informed that two new Security Features applications were under review.

It was also noted that the Executive was expanding the definition of wholesale and retail to provide clarity to the market.

ASM Task Force

The meeting reviewed the proposed Terms of Reference and the Executive summary on producer countries and was requested to provide feedback by 7 April.

The progress so far on the SWOT analysis of specific producer countries was underway.

If you have any issues or questions that you feel should be discussed by the Refiners' Committee then please contact varsha.peiris@lbma.org.uk.