LBMA SG FORUM – Swiss-based Metalor Technologies to open gold refinery in S’pore

Jun 25, 2014 - 3:22 AM GMT
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Metalor Technologies, a Switzerland based company specialising in metallurgy and management of precious metals, will officially open its Singapore gold refinery in Singapore on the 26th of June.

Speaking at the LBMA Singapore Market Forum, Chairman of Metalor Technologies, Scott Morrison outlined the key rationale for investment in the refinery as having a lack of globally-oriented LBMA good delivery refinery in S.E Asia, a large deficit in gold supply in the region and having a strategic location here between the wold’s two largest gold consuming countries, China and India.

The new Metalor Singapore facility has been operational since May this year, occupying 2,600 square metres of the Jurong Industrial area and will be able to refine two tonnes of 999.9 kilo bars per week.

The refined gold bars will be able to support the physically delivery of the newly-launched SGX gold kilobar contract announced at the forum today.