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ABC Refinery has achieved accreditation from US-based CME Group, meaning its gold bullion is refined to the highest international standards.
ABC Refinery has achieved accreditation from US-based CME Group, meaning its gold bullion is refined to the highest international standards.

Australian refiner receives prestigious international accreditation

ABC Refinery, part of the Pallion group of companies, has been accredited by global markets company CME Group, which will allow ABC Bullion to be traded on the New York Commodity Exchange (COMEX) – one of the world’s largest gold exchanges.

The refiner is also accredited by the London Bullion Market Association (LBMA) and the Shanghai Gold Exchange (SGE). It is the only Australian refinery to hold LBMA, SGE and CME accreditation.

Phillip Cochineas, managing director ABC Refinery and director Pallion
Phillip Cochineas, managing director ABC Refinery and director Pallion
"It is a positive reflection on the entire Pallion family, which has enabled us to achieve this high international standard and furthers our support of the Australian gold industry"
Phillip Cochineas, ABC Refinery

Phillip Cochineas, managing director ABC Refinery, said, “This accreditation ensures ABC Bullion bars will continue to be a preferred brand in the global marketplace and remain sought after for years to come.”

“It is a positive reflection on the entire Pallion family, which has enabled us to achieve this high international standard and furthers our support of the Australian gold industry by increasing demand for Australian gold,” he added.

Steven Kratsas, marketing manager Pallion, told Jeweller, “ABC is an internationally-recognised refinery.

"This additional accreditation gives jewellers peace of mind that the precious metals that they send for refining are held to the standard of LBMA, SGE, and CME. The gold that they receive back is recognised as being 99.99 per cent pure, and not only that, but it also meets the ethical sourcing standards that these international bodies demand."

ABC Refinery uses the acid-less separation (ALS) process as part of Pallion’s ‘green gold’ refining standard, which Kratsas says is part of the group’s broader goal to lead the industry in technology and innovation.

As previously reported in Jeweller, Palloys – another Pallion company – became the first Australian jewellery manufacturer and wholesaler to be accredited by the Responsible Jewellery Council (RJC) in 2019.

Kratsas explained that the accreditation process took two years to complete and involved being externally audited on the social and environmental impacts of its various processes.

“I believe still to this day, we are the only Australian wholesaler and manufacturer that is RJC-accredited. So that's a big feather in our cap,” he said.

ABC Refinery refines approximately 20 per cent of the gold mined in Australia, in addition to jewellery scrap, and does not import gold for refining. Kratsas said that guaranteed Australian origin of gold could form a unique selling point for jewellers in the post-COVID-19 environment.

 

More reading:
Palloys attains new ethical certification
Casting and refining continues to evolve
ABC earns gold accreditation
ABC Bullion receives global acknowledgement
 




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