This post was originally published on this site.
Shandong Gold Smelting Co. Ltd has been suspended from the London Bullion Market Association’s Gold and Silver Good Delivery Lists after the refiner was added to a US forced labour blacklist.
The suspension takes effect Aug. 5 and follows Shandong Gold Smelting’s inclusion on the US Uyghur Forced Labor Prevention Act (UFLPA) Entity List. The London-based body, which oversees the Good Delivery accreditation system for precious metals refiners, said it has launched an incident review process and that the suspension is an interim measure pending the outcome.
“LBMA remains focused on a transparent and rigorous approach and will advise of further updates in due course,” the association said. It added that the review will involve consultation with a range of stakeholders.
Company response
Shandong Gold Smelting told the LBMA it “firmly rejects” its inclusion on the UFLPA Entity List and welcomes “a fair, independent and objective review by LBMA under the Good Delivery Rules and Responsible Sourcing Programme.”
The suspension underscores the growing impact of US trade and human rights measures on global precious metals supply chains, with Good Delivery accreditation remaining a key benchmark for refiners seeking access to international bullion markets.
