SBMA Good Delivery List

The SBMA Good Delivery List plays a critical and integral part of the Association, which is mandated to set industry standards and promote best trade practices to develop Singapore as the region’s precious metals hub. The Good Delivery List only includes accredited refiners whose bars meet the minimum standards as described below. The SBMA Good Delivery List Committee will maintain the Good Delivery List for gold kilobars, detailing the names of the accredited refiners, country of origin and marking details of their bars.
The minimum standards of the bars to be accredited as part of the SBMA Good Delivery List are:
  • The kilobars must comply with the LBMA Responsible Gold Guidance.
  • The kilobars must be produced by a refinery in the LBMA Good Delivery List and be widely accepted in Asia.

Application for inclusion in the SBMA Good Delivery List:

  1. The applicant (refiner) must be on the Current LBMA Good Delivery List.
  2. The applicant (refiner) has implemented and adheres to the LBMA Responsible Gold Guidance.
  3. The applicant (refiner) must provide reference letters from three SBMA members which actively participate in physical bullion trading, of which at least one must be a Category 1 member, confirming that they:
    1. have maintained an active business relationship with the applicant (refiner) within one year prior to the application; and
    2. have experience of buying or selling the applicant’s (refiner) bars within the Asia region; and
    3. have experienced no purity, quality, or other issues relating to the applicant’s (refiner) bars; and
    4. are willing to support the application of the refiner.
  4. If the applicant (refiner) cannot provide such reference letters stated in point 3 due to lack of Asian exposure/track record or other reasons, they must then provide:
    1. Letters from at least two Catergory 1 members confirming that they have no objection to accepting the applicant (refiner) in the SBMA Good Delivery List; and
    2. proof of their intention and commitment to continue marketing their brand in Asia (e.g. application for SBMA membership, maintaining an office in Singapore/Asia, representatives or consultants employed in the region).
  5. The SBMA Good Delivery List Committee may request the applicant (refiner) to provide additional information to support the application prior to making a recommendation to the Management Committee of the SBMA for final approval.
  6. Should the application be approved, SBMA expects the applicant (refiner) to continue to maintain good quality production standards and to endeavor to further enhance the marketability of their bars in Asia.
  7. The applicant (refiner) should understand that their Good Delivery status may be reviewed from time to time. Grounds for review may include, but is not limited to:
    1. SBMA’s receipt of a written complaint against the applicant (refiner) regarding the quality or marketability of its bars; or
    2. periodic reviews of the bars admitted through the no objection letter process, as prescribed in point 4; or
    3. at the GDL committee’s discretion.
  8. The applicant (refiner) should acknowledge that SBMA may retract the applicant’s GDL status at its discretion should the applicant be deemed by the SBMA as no longer fit for good delivery status after such review stated in point 7 has been conducted.

The current SBMA Good Delivery List is as follows:

  1. Argor-Heraeus SA Country: Switzerland Current Bar Mark: Argor-Heraeus SA in circle around AH with Switzerland below and AH Melter Assayer in rectangle.
  2. Asahi America Holdings Inc (former Johnson Matthey Gold and Silver Refining Inc.) Country: United States Current Bar Mark: Johnson Matthey, with JM and crossed hammers in diamond and JMI Assay Office in oval around SLC.
  3. Heraeus Ltd Hong Kong Country: Hong Kong Current Bar Mark: Heraeus Hong Kong within a rectangle.
  4. Johnson Matthey Ltd Country: Canada Current Bar Mark: JM and crossed hammers in diamond surrounded by JOHNSON MATTHEY, and JM Ltd Canada Assay Office in oval.
  5. LS Nikko Copper Inc Country: Republic of Korea Current Bar Mark: Stylised LS logo and LS ASSAYER MELTER in rectangle with new bar numbering system.
  6. Metalor Technologies (Hong Kong) Ltd Country: Hong Kong Current Bar Mark: METALOR® with assay mark M over HK within an inverted triangle and ASSAYERS and MELTERS along the sloping sides of the triangle.
  7. Metalor Technologies SA Country: Switzerland Current Bar Mark: METALOR® and assay mark showing Essayeur Fondeur along two sides of a triangle and MP within. Patterned bottom surface.
  8. Metalor Technologies Singapore Pte Ltd Country: Singapore Current Bar Mark: METALOR® together with an assay seal showing MSG.
  9. Metalor USA Refining Corp. Country: United States Current Bar Mark: METALOR® and MUS inverted triangle assayer’s mark including year.
  10. Pamp SA Country: Switzerland Current Bar Mark: PAMP SA Switzerland with company logo (the letters P, A, M, P at the ends of horizontal cylinders) and Essayeur Fondeur in rectangle with company logo.
  11. PT Aneka Tambang (Persero) Tbk (Logam Mulia) Country: Indonesia Current Bar Mark: LM logo in pentagon and REFINER ASSAYER INDONESIA ANTAM LOGAM MULIA in oval.
  12. Rand Refinery (Pty) Ltd Country: South Africa Current Bar Mark: RAND REFINERY below a circular brandmark of a pouring crucible.
  13. Royal Canadian Mint Country: Canada Current Bar Mark: ROYAL CANADIAN MINT and MONNAIE ROYALE CANADIENNE in maple leaf logo with four-digit year mark. Landscape layout.
  14. Sumitomo Metal Mining Co., Ltd Country: Japan Current Bar Mark: Sumitomo logo (diamond shape with indents on each edge and corner with a small diamond in the centre). Landscape layout.
  15. Valcambi S.A. Country: Switzerland Current Bar Mark: Valcambi SUISSE. A rectangle enclosing CHI in a circle and ESSAYEUR FONDEUR. Brand mark is a diamond comprising four scalene triangles.
  16. Western Australian Mint (T/a The Perth Mint) Country: Australia Current Bar Mark: THE PERTH MINT, AUSTRALIA with stylised swan logo in a rounded rectangle.

(last update: February 2016)