PRECIOUS METALS

ABC gets COMEX accreditation

Australian gold producers to benefit

Staff reporter
ABC gets COMEX accreditation

The accreditation, for its premier gold product, the COMEX "GC" gold futures contract, sees ABC bars added to the good delivery list of brands used to physically settle against the GC gold futures contract.

"In this time of unprecedented global demand for gold, this accreditation opens up an important new market for Australian producers," ABC managing director Phillip Cochineas said.

"The significant demand for physical gold during the global COVID- 19 pandemic demonstrates the long-term appeal of gold as an asset class, particularly in times of upheaval.

"The accreditation of ABC Refinery also evidences the increasing importance of the Australian gold sector to global markets and is a substantial increase in the physical gold supply chain for COMEX."

ABC, part of the Pallion Group, currently refines more than 20% of all gold mined in Australia.

The CME accreditation, completes ABC's accreditation status with the three major gold trading centres, alongside the London Bullion Market Association and Shanghai Gold Exchange.

"This accreditation ensures ABC Bullion bars will continue to be a preferred brand in the global marketplace and remain sought after for years to come," Cochineas said.

"It is a positive reflection on the entire Pallion family, which has enabled us to achieve this high international standard and furthers our support of the Australian gold industry by increasing demand for Australian gold."

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.