In Russia, they proposed to create an analogue of Good Delivery
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The Association of Russian Refineries proposed to create a Russian analogue of the Good Delivery metal supplier reliability certification. This was announced by Deputy Finance Minister Alexei Moiseev.
“I want to gather all the participants in the process and talk, discuss how this can be done,” Mr. Moiseev told reporters (quoted by Interfax). The place and time of the meeting is not known.
From a technological and organizational point of view, nothing has been decided yet. A domestic system is needed “so that banks have a clear, independent mechanism for evaluating ingots.” The new standard can be connected to the control system for the circulation of precious metals, precious stones and products from them (GIIS DMDC).
Good Delivery is a certificate from the London Bullion Market Association, which is a set of rules that describe the physical characteristics of gold and silver bars that are used in calculations.
The validity of the certificate for Russian refineries is currently suspended. Certificates according to the Good Delivery standard of the UAE and the Shanghai Gold Exchange from Russian plants remained only with Krastsvetmet.
Read more about the situation in the gold mining industry in Russia – in the material “Kommersant” “Bad Supplier”.
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