GDL AND RESPONSIBLE SOURCING - LBMA 2016/S3_Harby.pdf · GDL ENFORCEMENT. Good Delivery List Review Methodology Tangible Net Worth > £15,000,000 Minimum throughput (3year moving

GDL AND RESPONSIBLE SOURCING

Neil Harby

Head of Good Delivery, LBMA

Enforcement & Continuous Improvement

GOOD DELIVERY LISTSThe Physical Side of the Market

Gold Refiners

19

Silver Refiners

28

Gold & Silver

52Countries

31

GDL ENFORCEMENTGood Delivery List Review Methodology

►Tangible Net Worth > £15,000,000►Minimum throughput (3year moving average)

►Gold – 10t►Silver – 50t

►Adherence to Responsible Gold Guidance►Annual Reporting►Proactive Monitoring

►Bar Production

“The LBMA believes that the long-term viability of a refinery as well as its ability to meet the required standards is critical to the integrity of the Good Delivery List.”

RESPONSIBLE SOURCINGContinuous Improvement

► Responsible Gold now into 4th year.► Yearly Overview► 2017 Reporting – Mutual Recognition► Best Practices► Country of Origin

► Responsible Silver► 2016 Consultation► 2017 Voluntary► 2018 Mandatory