Russian refiners still OK to trade, says London Platinum and Palladium Market
LONDON - The London Platinum and Palladium Market (LPPM) said on Tuesday it would maintain its accreditation of two Russian precious metals refineries, meaning they can continue to sell metal in the London market, the world's largest.
The two refiners accredited by the LPPM were JSC Krastsvetmet and the Prioksky Plant of Non-Ferrous Metals.
"Following a meeting of the Management Committee of the LPPM last night, there will be no changes to our Good Delivery list," the LPPM's Chief Administrative Officer, Jane-Anne Wardley, said.
"We will obviously continue to monitor and review the situation," she said.
The London Bullion Market Association (LBMA) on Monday suspended all six gold refineries it accredits from its good delivery lists on Monday, blocking gold and silver they produce from the London market.
The LBMA had earlier asked the refiners what links they had with entities that have been sanctioned since the Kremlin sent Russian troops into Ukraine on February 24.
Russia produces 25% to 30% of the world's palladium, a precious metal used by automakers in exhaust systems to reduce emissions. Uncertainty about Russian shipments has pushed palladium prices to record highs.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation