Valcambi Exits Industry Association ASFCMP
Published: Friday, Oct 27th 2023, 12:20
Updated At: Saturday, Oct 28th 2023, 01:55
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Valcambi and the Swiss Association of Precious Metal Manufacturers and Dealers (ASFCMP) are no longer on the same page. The gold processor is immediately withdrawing from the industry association.
Valcambi and the ASFCMP have revealed that during conversations, they have irreconcilable differences. As a result, Valcambi has submitted its withdrawal from the association with immediate effect. The ASFCMP has acknowledged the decision.
Valcambi is the world's largest gold refiner, based in Balerna in the canton of Ticino. The industry has recently come under criticism from non-governmental organizations, who have raised concerns about the lack of transparency in trading relationships and have called for stricter precious metal control laws.
The ASFCMP was founded in 1978 and brings together 14 companies that are active in the processing and trading of precious metals. A jointly signed Code of Conduct sets standards, particularly with regard to business ethics.
The shared standards call for the strict adherence to and development of regulations, the responsible use of resources, environmental protection, and the pursuit of transparency in the precious metals industry.
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