August 18, 2023

Dowa Metals & Mining Co Ltd and Korea Zinc - Incident Review Process Invoked

The Incident Review Process (IRP) has been invoked following a review of the true country of origin of precious metals contained in base metal concentrates. These concentrates are treated primarily for their base metal content. This is a high priority, as any incident or issues that may impact the credibility of the Good Delivery List and the wholesale precious metals market are treated very seriously. At this point, LBMA cannot commit to a timeline given that the process involves numerous stakeholders.

Further updates will be provided in due course.

Currently Dowa Metals & Mining Co Ltd and Korea Zinc remain on the Good Delivery List.

The London Good Delivery List of Acceptable Refiners of gold and silver is maintained by 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.