LONDON, May 4 (Reuters) – The London Bullion Market Association (LBMA) said on Wednesday it had reinstated its accreditation of a precious metals refinery in Kyrgyzstan, allowing it to sell metal in the London market, the world’s largest.
The LBMA said in September it had suspended its accreditation of Kyrgyzaltyn JSC for failing to meet its responsible sourcing standards, without giving details.
The association said on Wednesday it had closed an investigation into the refinery initiated after it failed to deliver an audit report for 2020.
“They gave us everything we needed and answered all our questions,” said the LBMA’s general counsel, Sakhila Mirza.
“As of Tuesday, 3 May 2022, Kyrgyzaltyn JSC was reinstated to LBMA’s Good Delivery List (GDL),” the LBMA said. “All gold and silver refined during the suspension is considered to be compliant with GDL rules and, therefore, Good Delivery.” (Reporting by Peter Hobson Editing by Mark Potter)