Turkey refinery Nadir added to LBMA's Silver Good Delivery List

Metal Recycling News  |  2012-06-21 06:23:15   |   By

The silver refinery of Nadir Metal Rafineri San. Ve Tic. A.Åž. (Nadir) of Turkey has been added to the LBMA's Good Delivery List for silver with effect from 20th June, 2012.

LONDON (Scrap Monster): The silver refinery of Nadir Metal Rafineri San. Ve Tic. A.Åž. (Nadir) of Turkey has been added to the LBMA's Good Delivery List for silver with effect from 20th June, 2012.

Nadir was previously added to the Good Delivery List for gold on 8th December, 2011.

Nadir has satisfied the LBMA as to its ownership, history, production capability and financial standing.

It has also passed the LBMA's exhaustive testing procedures, under which its silver bars were examined and assayed by independent referees, and its own assaying capabilities were tested.

Nadir is located in Bahçelievler, Istanbul. Its primary sources of feedstocks are silver doré ingots from silver mines and also silver jewellery scrap received from jewellery manufacturers.

Nadir's refined silver output is in the form of granules and large bars which is sold to the investment market, banks and jewellery manufacturers.

The London Good Delivery List of Acceptable Refiners of gold and silver is maintained by the LBMA, by whom it is copyrighted. It lists those refineries whose gold and silver bars have been found, when originally tested, to meet the required standard for acceptability in the London bullion market. The List now includes 63 gold and 73 silver refiners.