Switzerland is one of the most important countries in the world when it comes to gold, and it’s not just because it buys gold; it also exports more than 100 billion U.S. dollars worth of gold every year. When looking at the value of its products, Switzerland consistently stays ahead as the world’s biggest gold exporter.
This amazing accomplishment was possible because Switzerland is so important in the gold refining process—it refines an amazing 70% of the world’s gold. Because of its unique location, this country has to import a lot of gold that hasn’t been refined and then sell the precious metal that has been refined. Switzerland’s steady leadership in both importing and exporting gold shows how important it is to the world gold trade.
Switzerland – the country that turns raw metal into a piece of perfection
The Alpine country hosts some of the most significant precious metal refineries. It is largely to their credit that Switzerland is such a significant leader in the global gold trade. Here are some of the most important names you should know:
PAMP (Produits Artistiques Métaux Précieux)
In the world of rare metals, PAMP (Produits Artistiques Métaux Précieux) is a well-known name. The company was founded in 1977 in Ticino, Switzerland. In a short amount of time, PAMP has become the most famous bullion name in the world, proving its dominance in the world’s main precious metals markets.
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Mahmoud Kassem Shakarchi, who started MKS (Switzerland) SA in Geneva in 1979, had a big impact on PAMP’s path. This business formed a strong partnership with PAMP, a cutting-edge Swiss factory that specializes in making small gold bars. Thanks to Shakarchi’s smart business, these bars quickly became famous all over the Middle East.
Early in 1981, Mahmoud Kassem Shakarchi bought a majority stake in PAMP. This stake was later increased, which helped the company become the well-known brand it is today. He helped MKS and PAMP grow into two of the most respected companies in the world that sell and support precious metals.
Valcambi
Valcambi is a well-known name in the world of rare metals, and its headquarters are in Balerna, which is in the southeast of Switzerland. Valcambi has one of the biggest refineries for valuable metals in the world. It covers an area of 3.3 hectares and is completely dedicated to that purpose.
With strict security measures and top-notch quality control systems, the business is nothing less than cutting-edge. The amount of gold, silver, and platinum group metals that Valcambi can refine each year is an amazing 2,000 metric tons.
A wide range of services are available from Valcambi, including refining, making cast and minted bars, assaying, creating semi-finished products specifically for the watch industry, and designing and making coins, medals, blanks, and complex alloys.
Valcambi has a long past that goes back to 1961 when Velori & Cambi built a precious metals refinery. After that, a group of private Swiss investors who have worked in the rare metals business for more than 50 years. Global Gold Refineries Ltd (GGR), a company based in Switzerland, now owns all of Valcambi. European Gold Refineries Holding SA (EGR), which had owned Valcambi before, was taken over, which made the change of ownership easier.
Newmont Mining (60.6%) and private investors (39.4%) owned EGR until July 2015. GGR is mostly owned by REL Singapore PTE Ltd in Singapore (95% of the company) and Rajesh Exports Limited (5%) in Bangalore, India, which is a public company.
Metalor
Metalor’s history, which goes back more than 150 years, shows how dedicated it is to being the best in the rare metals business. The journey started in 1852 in Le Locle, Switzerland when Martin de Pury & Cie was founded. Their main business was melting and rolling gold for watch cases.
Between 1960 and 2016, there was a time of foreign growth. Along with France, the US, China, and other Asian countries, Metalor expanded its reach. It became a separate company in 1998 and then went back to its main businesses, which included refining precious metals.
Tanaka Kikinzoku, a well-known Japanese precious metals business, bought Metalor in 2016, which marked the start of a new era. Today, Metalor is happy to be a part of Tanaka Kikinzoku, which is a global leader in refining and making things out of precious metals.
Metalor’s Refining section is an important part of its business. Its job is to find and process different kinds of precious metals from legal primary and secondary sources. With five LBMA-certified refineries spread out over three countries, the division is committed to upholding the highest standards of traceability and sourcing metals in a way that is completely in line with social, environmental, and moral standards.
As is already clear, Switzerland has a proven tradition in the processing of gold products, which fully explains its leading position in their trade worldwide.
