Conclusion

The next stage in this process will be for LBMA to consult widely and begin to define the criteria, framework and working details of the various interventions recommended in this report, including the possible creation of a Good Delivery List for intermediate refiners. We expect the consultation process to take most of 2023, with some elements becoming operational in 2024.

LBMA Board

Independent Non-Executive Directors:
Dr Paul Fisher (Chairman)
Andrew Quinn
Isabelle Strauss-Kahn

Executive Directors:
Ms Ruth Crowell, Chief Executive Officer, LBMA
Ms Sakhila Mirza, General Counsel, LBMA

Elected Market Making Member Representatives:
Mr Davide Collini, BNP Paribas
Mr Raj Kumar (Vice Chairman), Managing Director, ICBC Standard Bank Plc
Mr Paul Voller, Managing Director, HSBC

Elected Full Member Representatives:
Mr Fang Wenjian, Chief Executive Officer, Bank of China (UK) Limited
Mr Praveen Baijanth, Rand Refinery
Mr Hitoshi Kosai, Chief, International Planning Office, Tanaka Kikinzoku Kogyo KK and Tanaka Holdings Co Ltd.

The biographies for all Board members can be found on the LBMA website.