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Uralelektromed confirmed the Good Delivery status for silver

Uralelektromed confirmed the Good Delivery status for silver

JSC “Uralelektromed” (an enterprise of UMMC metallurgical division) demonstrated high quality of refined silver again, confirming the international status of “Good Delivery”, a worldwide recognition of reliable delivery.

According to Alexei Batuev, JSC Uralelektromed’s Deputy Director on Quality and Precious Metals, according to the results of proactive monitoring, the silver produced by the company complies with the international standard of the London Bullion Market Association (LBMA). The analysis of the quality of silver bars of the Ural enterprise was conducted by specialized internationally recognised laboratories having appropriate accreditation. Following the results of the work performed, the company was granted a certificate of a reliable silver supplier by the LBMA Physical Committee.

According to the requirements of LBMA, the members of association are required to confirm the status of approved producers of gold and silver bars once in three years. LBMA assessed the quality of silver bars, checked the set of documents confirming the financial and economic viability of the company and precious metals output over the past three years.

According to the “Good Delivery” standard, silver bars shall have a certain weight, composition and shape. Manufacturer's stamp, weight of the bar, serial number, metal fineness, year of manufacture, “Russia” mark shall be indicated on the surface. A mandatory requirement for ingots is regular shape and straight edges. An ingot shall be free from physical damages and defects.

It should be noted that in January of this year, the company confirmed the Good Delivery status for gold.

In August 2004, “Uralelektromed” became the first metallurgical enterprise in the world included in the LBMA list of the acknowledged producers of precious metals as a refined silver manufacturer. In May 2006, the company was included in the Good Delivery list as a reliable producer of refined gold. Moreover, “Uralelektromed” silver bars were recognized as the best by the LBMA Physical Committee following the results of 2016.