Metalor to hold opening ceremony for new Singapore refinery
Neuchâtel (Switzerland) – June 26, 2014
Metalor Technologies, the leading worldwide precious-metals refiner based in Neuchâtel (Switzerland), today announced the opening ceremony for its new refinery in Singapore.
In a previous press release dated June 13, 2013, Metalor announced that it had successfully cast the first gold bar at its new plant in Singapore, thus officially starting its operations there. At this first implementation stage, Metalor’s service range consisted mainly of precious-metal evaluation and gold bar manufacturing services.
Further to this announcement, and in accordance with its implementation schedule, Metalor is pleased to announce that the implementation of full refining capacity is now complete. The production capacity of Metalor Singapore can be adjusted from 50 to 150 tonnes a year to adapt to market demand.
The brand-new 2600 sq. m refinery will employ 60 highly qualified staff and now offers a complete range of refining services – from evaluation to bullion production – to banks, bullion dealers, scrap collectors and mines in the whole South-east Asia region.
Metalor Group CEO Hubert Angleys and Mr Lee Yi Shyan, Singapore Senior Minister of State for Trade & Industry and National Development, officiated the opening. The Swiss Ambassador in Singapore, Thomas Kupfer, and the Chairman of the London Bullion Market Association, David Gornall, were also in attendance.
“Along with our existing refineries in Hong Kong and China, we are pleased to have taken this additional significant step in our Asian expansion with this new site in Singapore. There is a growing need for refining services in this region, and we would like to again thank sincerely the Singapore Government, as well as other major partners like EDB (the Singapore Economic Development Board), International Enterprise (IE) Singapore, JTC Corporation, for their precious contribution in making this great project a success,” said Hubert Angleys.
“Metalor Singapore is also extremely proud to announce that it was recently successfully certified to the RJC’s CoC (Chain of Custody) Certification Standard, which is designed to support responsible sourcing of precious metals in the jewelry supply chain. All Metalor refineries across the world comply with the high standards of the ethical, social and environmental practices of the RJC,” noted Gilles Robert, Country Manager Metalor Singapore.
Gina Lim, Trade Services and Policy Group Director, IE Singapore said, “Completion of the Metalor facility marks another key milestone in the vision for Singapore to become a global precious metals trading hub. The refinery forms a key part of the precious metals ecosystem in Singapore. It complements the community of bullion banks, trading houses and secure logistics providers. The presence of Metalor in Singapore is also a great boost in supporting IE Singapore’s continuous drive to strengthen our trade infrastructure by attracting more global trade players here.”
“We congratulate Metalor on the opening of their first gold refinery in Singapore and welcome them as the first tenant at the JTC Surface Engineering Hub @ Tanjong Kling. We are glad that the Surface Engineering Hub, through its shared infrastructure such as the centralised wastewater treatment plant, is able to provide a competitive infrastructure solution for Metalor’s operations in Singapore,” said Mr Png Cheong Boon, CEO, JTC Corporation.
Metalor Singapore is in the process of going through the LBMA accreditation procedures to be added to the LBMA’s Good Delivery List for gold, which is universally recognized as the de facto standard for the quality of gold and silver bars.
Also Metalor Singapore is an IRAS-approved refiner (the Inland Revenue Authority of Singapore) and recognized as a producer of Investment Precious Metals (IPM).
As a responsible multinational Group, Metalor participates in, cooperates with, and enhances worldwide efforts to ensure the precious metals it refines and transforms come only from legitimate, ethical sources, and that they have not been associated with crime, armed conflict or human rights abuse. Metalor has implemented very strict due diligence processes to ensure legitimate business practices at all steps in its supply chain.
About Metalor Group
Metalor is a leading responsible player in the precious metals trade.
Through its three business units (Refining, Advanced Coatings and Electrotechnics) Metalor serves customers on all continents in a variety of industry sectors, from Swiss watch manufacturers to Mexican electrical equipment suppliers.
The Group’s core competencies are chemistry, metallurgy and the management and transformation of precious metals.
Since its creation in 1852, Metalor’s corporate culture has been founded upon honesty and integrity at all levels of the Company.
Metalor’s primary objective is to create exceptional value for its customers, stakeholders and shareholders, within a culture of performance, innovation, trust, respect and ethics.
With subsidiaries all over the world, and more than 1700 employees, the Metalor Group is present in Europe, the United-States, South-America and Asia.
In 2013, Metalor’s net sales amounted to CHF 337 million.
For more information about Metalor, you can visit our website at: www.metalor.com
You can also contact the Metalor Communications Department at email@example.com
The Responsible Jewellery Council is an international not-for-profit standards and certification organization. It has more than 470 Member companies that span the jewelry supply chain from mine to retail. RJC Members commit to and are independently audited against the RJC Code of Practices – an international standard on responsible business practices for diamonds, gold and platinum group metals. The Code of Practices addresses human rights, labor rights, environmental impact, mining practices, product disclosure and many more important topics in the jewelry supply chain. RJC also works with multi-stakeholder initiatives on responsible sourcing and supply chain due diligence. The RJC’s Chain-of-Custody Certification for precious metals supports these initiatives and can be used as a tool to deliver broader Member and stakeholder benefit.
The RJC is a Full Member of the ISEAL Alliance – the global association for sustainability standards. For more information on RJC Members, Certification, and Standards please visit www.responsiblejewellery.com
About the London Bullion Market Association
The LBMA is the international trade association that represents the wholesale over-the-counter market for gold and silver bullion. The LBMA undertakes many activities on behalf of its members, including the setting of good delivery and refining standards, the organization of conferences and other events, and serving as a point of contact for the regulatory authorities. For more information, please visit www.lbma.org.uk.
About International Enterprise Singapore
International Enterprise (IE) Singapore is the government agency driving Singapore’s external economy. For the past 30 years, it has been spearheading the overseas growth of Singapore-based companies and promoting international trade. Its vision is a thriving business hub in Singapore with Globally Competitive Companies and leading international traders.
IE Singapore attracts global commodities traders to establish their global or Asian home base in Singapore. Today, Singapore is a thriving trading hub with a complete ecosystem for the energy, agri-commodities and metals & minerals trading clusters.
Through its Global Company Partnership and Market Readiness Assistance, IE Singapore also works with Singapore-based companies in their various stages of growth towards being globally competitive.
IE Singapore’s global network of overseas centers in over 35 locations provides the necessary connections in many developed and emerging markets. Visit www.iesingapore.com for more information.
About JTC Corporation
JTC Corporation (JTC) is Singapore’s leading industrial infrastructure specialist spearheading the planning, promotion and development of a dynamic industrial landscape. JTC has played a key role in the growth of the Singapore’s economy by pioneering cutting-edge industrial real estate solutions. Some of its landmark projects include CleanTech Park, a chemicals hub on Jurong Island, Jurong Rock Caverns, Seletar Aerospace Park, and Tukang Innovation Park. In JTC’s portfolio are other key projects including wafer fabrication parks, business parks, Biopolis and Fusionopolis at one-north, biomedical parks as well as logistics hubs for various industries. These industrial and business parks are now home to renowned global companies and promising local enterprises.
As Singapore transforms itself for the future, JTC, as the industrial infrastructure innovator, will partner with its customers to understand their evolving needs and develop appropriate 'future-ready' infrastructure solutions. JTC will continue to break new ground and expand its innovation capacity to offer infrastructure facilities of a caliber that sets the city state apart as an investment location.
For more information on JTC and its products and services, please visit www.jtc.gov.sg.