Page 27 - Bullion World Volume 03 Issue 07 July 2022

Bullion World | Volume 2 | Issue 07 | July 2022

entire cycle, from production to law to be processed at the Russian production of gold. The Ministry of
logistics and sales. Miners can refineries. Finance of the Russian Federation
shorten their production cycle of We also source internationally, and is registering refined gold volumes
dore and save the melting costs despite our LBMA Good Delivery within 11 refineries along with gold
by delivering its’ precursors for status being suspended, we production volumes by the regions of
processing. Associated metals in continue to follow the guidance. the Russian Federation.
Dore, such as iridium and platinum, Domestic AML law also requires All suppliers, whether foreign,
can also be extracted and paid burdensome paperwork to be done local, miners, or secondary
for. We openly share our 79 years correctly. In addition, there is an materials collectors, are screened
of expertise with other players implemented digital tracking system in databases and mass media. We
in accurately establishing their of origin for the precious metals in have to ensure everything is clear
sampling, assaying, and refining Russia. The Ministry of Finance of and there are no issues connected
processes to avoid discrepancies. the Russian Federation, together with violation of human rights and
The research and development with Goznak, implemented the any other breakage of responsible
center is a unique space for all system last year. The system is a sourcing policies. The annual PwC
the colleagues in the industry to coding of metal at different stages of audit confirms the effectiveness of
be engaged in research of new the supply chain. When we receive our compliance process.
technologies and products along gold scrap or dore for processing, it
with our team. Ensuring the safety of gold is easy
already has the code in the system as, by the law, only authorized
Does the company own gold and information about where this logistic companies are allowed to
mines, or is it a standalone gold is coming from. It is the same collect and deliver precious metals
refiner. In case of dore sourcing with imported materials coded by within Russia. Such equipped with
сan you elaborate the following: importers during customs clearance, armored trucks, security convoys,
declaring their origin. All miners
1. How do you ensure sustainable and covering insurance. Ensuring
and responsible sourcing of in Russia have licenses limited by no difference is determined during
Dore. time and volumes produced. The the assays is also not an issue,
state institution for the formation as, from the beginning, we are
2. How do you ensure the quality, of the State Fund of Precious
supply consistency and safety of Metals and Precious Stones of the discussing the process of sampling
gold dore are addressed. Do you Russian Federation is registering the and assaying of our suppliers,
have any foolproof mechanism helping them to improve it at every
put in place?

Krastsvetmet does not own any
mines in Russia or elsewhere. We
focus on providing a wide range
of services and products of high
quality. The benefits of our company
start from the technical consultancy
and audits, technology transfers
for the refineries and processing
companies, logistic services,
customs clearance services,
and ending with IT support and
consulting, various online portals
for our suppliers and consumers
to make their life easier. The same
is true for the dore: we provide
logistic and refining services for
the domestic miners. Russian dore,
in its initial form, is obliged by the

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