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Alex Stewart International Commissions New Precious Metals Laboratory in Liverpool, UK

By Rob Smith, Business Development Executive, Alex Stewart International

Published on December 10, 2021

Although fire assay is an ancient technique, it is still considered the standard method for determining the gold content in a range of precious metal bearing materials.

This method has, however, also been supplemented by the use of modern-day instrumentation and the continuous advancement in technologies, which have improved the efficiency and accuracy of the precious metals assaying process. Reflecting these ongoing developments, ASi has continued to invest in its precious metal testing facilities and in early 2021 the company commissioned a new modernised Fire Assay Laboratory at its Head Office Laboratories in the United Kingdom (UK).

Investments include the installation of state-of-the-art multi-pour fire assay furnaces, which have resulted in significantly increased assaying capacity. These furnaces are used in the initial fusion stage of the gold assaying process and are an integral part of the company’s fire assay laboratory. Within this process, the precious metal bearing sample is mixed with a fluxing agent with lead added as a collector. The samples are then heated at high temperatures, resulting in the fusion of the precious metals and the lead, which separate from the silicate slag and form a button in the bottom of the crucible. The samples are removed from the furnace, cooled and the button is then separated from the slag.

The precious metals are then extracted by a process known as cupellation, whereby the button is placed in a cupel and heated in a cupellation furnace. During this process, the lead oxidises and is absorbed into the cupel, leaving a precious metal bead. The gold content of the bead is determined either gravimetrically or is dissolved in aqua regia to be analysed by one of several instrumental methods. Silver content can also be determined.

One such instrumental method is Inductively Coupled Plasma-Optical Emission Spectrometry (ICP-OES) which is utilised extensively for the determination of precious metals content within a range of low and high grade precious metal bearing materials. As part of the recent investment, ASi have also modernised the ICP-OES laboratory with hi-tech equipment. Along with the upgrade to the furnaces, these investments have increased assaying capabilities significantly and will help to ensure swift result turn-around times and the high quality accurate analysis which is expected within the industry.

To coincide with the commissioning of the new fire assay laboratory, a new video walkthrough of the fire assaying process was filmed at the Head Laboratories in Liverpool, UK, which can now be viewed online at www.alexstewartinternational.com

WIDE RANGE OF TESTING

Within ASi’s precious metals laboratories, chemists are able to produce both accurate and precise results using a blend of modern instrumental and classical techniques for all precious metal bearing materials. These include concentrates, dore, high-grade bullion, jewellery scrap, electronic scrap, PGMs, catalysts, sweeps, slimes, sludges and residues. ASi provides both party and umpire analysis services, as well as analysis services for quality control purposes, and are approved by CME Group for analysis of all COMEX and NYMEX metals products.

ASi also provides analysis services across a range of other metals, minerals and commodities at its extensive laboratories in the UK and worldwide. All assaying methods are both time-tested and in-house developed with validation by the use of certified reference materials. External validation is also employed where samples are analysed for round robin exercises and technical committees.

ACCURATE PRECIOUS METAL VALUATION

ASi also provides a key range of inspection and sampling services to its worldwide clients. The company’s team of experienced inspectors attend at ports, smelters/refineries, processors, reclaimers and storage facilities worldwide to witness all stages of the weighing/sampling processes, including weighing, melting, incineration, screening, blending, sampling, moisture determination, loss on ignition (LOI), quality sample preparation and sample sealing.

Whether it be concentrates, dore, electronic scrap, jewellery scrap, PGM catalysts or refinery sweeps and residues, all of ASi’s experienced representatives are fully conversant with the various materials, processing facilities and sampling procedures employed at the major receivers worldwide. By having another pair of eyes and ears in attendance, inspectors help to eliminate possible human error and provide verification for all weights, data and calculations.

All operations are followed in accordance with agreed procedures so that material is satisfactorily recovered from all processes and equipment. Finally, of upmost importance, ASi ensures that representative samples have been drawn and that they are prepared and sealed in the presence of an inspector. By ensuring that the clients’ material is correctly handled, sampled and subsequently analysed, it is able to help all valued customers to reach a commercial settlement which is reflective of the true value of their shipment.

REFINERY ASSESSMENTS AND INVENTORY AUDITS

Reflecting its expertise and experience within the precious metals industry, ASi is also an approved supervisor for the proactive monitoring of refineries (PAM) on the LBMA Good Delivery Gold and Silver lists and is also a supervisor to the LPPM Good Delivery system for Platinum and Palladium. The company’s inspectors also attend at refineries to witness sampling and monitoring as part of the purity testing requirements for CME (COMEX/NYMEX) brand applications. In addition, ASi is accredited to perform inspections in accordance with DMCC Dubai Good Delivery (DGD) and Market Deliverable Brands (MDB) testing requirements.

Furthermore, another growing area of business involves the provision of independent bar auditing and inventory services to the investment community. These audits involve visiting secure storage locations to count bar quantities and to verify all bar details, markings and quality against official inventory lists supplied by the custodian vault and the client. ASi attends at approved bullion vaults worldwide on a regular basis, including in the UK, Switzerland, Germany, the Netherlands, China, Hong Kong, Singapore, India, Canada and the United States.

From mine to market, ASi’s strategically placed network has its customers’ inspection and analysis needs covered and looks forward to continuing to serve the global Precious Metals market.

ABOUT ALEX STEWART INTERNATIONAL

Alex Stewart International (ASi) is dedicated to helping clients obtain the correct valuation for their Precious Metal Materials. This is achieved through the provision of internationally accredited inspection, sampling and analytical services. Representing the ongoing growth in ASi’s Precious Metals Business and its continued drive to provide clients with the best possible service, the company is pleased to announce that it has recently commissioned an upgraded Precious Metals Fire Assay Laboratory at its Head Office Laboratories in Liverpool, United Kingdom.

ROB SMITH works as Business Development Executive within Alex Stewart International’s Metals and Minerals Commercial Team. The team are responsible for global sales and business development for the Alex Stewart International (ASi) Group, which is one of the world’s leading providers of inspection, sampling and analysis services to the commodities industry. In particular, Rob focuses on the group’s inspection and analysis business for Precious Metals materials and related products. Prior to joining ASi, Rob worked for over 10 years as a Commodities Research Analyst covering the base and precious metals markets.

In case of any enquiries, Rob can be contacted on rob.smith@alexstewartinternational.com

* This article was published in partnership with Alex Stewart International

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Lee Jia Yi

OPERATIONS & ADMIN EXECUTIVE
Before joining SBMA, Jia Yi worked as an Admin & Reporting Officer in her previous role. She holds a Diploma in Business & Social Enterprise from Ngee Ann Polytechnic. Jia Yi is responsible for managing and maintaining physical and digital files in SBMA, supporting invoicing processes, reconciling receivables and payables, coordinating meetings and conferences. Additionally, she will provide support to the team and assist the Business Director in managing the Association’s office operations and general administrative activities.

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Emily Oh

OPERATIONS & ADMIN EXECUTIVE
Emily Oh is the Operations & Admin Executive, a seasoned professional who values teamwork and effective communication. She is skilled at adapting to new challenges and takes a proactive and resourceful approach to every task. Before joining SBMA, Emily had experience coordinating international travel arrangements and spearheading community initiatives. Her role at SBMA will be providing operational and administrative support for projects and other matters to the team.

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Clara Chang

MARKETING & COMMUNICATIONS EXECUTIVE
Clara Chang joins SBMA as the Marketing & Communications Executive, enriching the team with her extensive experience in content creation, social media management, and digital marketing. Prior to joining SBMA, Clara held the position of Marketing Executive at her previous job. She holds two bachelor’s degrees from the University at Buffalo, one in International Trade and another in Geographical Information Science. Her core duties will include maintaining the SBMA website, managing the quarterly Crucible newsletter, among other responsibilities.

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Mr John Levin

Global Metals
TD Securities
John Levin is the Head of Metal Sales & Trading – APAC at the Toronto Dominion Bank’s Singapore office. Prior to this role, he devoted seven years to leading precious metal sales for the ANZ banking group in his home country, Australia. Notably, from 2009 to 2011, John played a significant role on the management committee of the London Bullion Market Association while serving as the Head of Precious Metals Sales for HSBC Global Banking and Markets in the UK.

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Fabian Lew

MARKETING & COMMUNICATIONS OFFICER

Fabian was a Business Development and Marketing Associate before joining SBMA. He graduated from Singapore Management University with a Bachelor’s degree in Economics.

He has joined SBMA since February, 2022.

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Margaret Wong

BUSINESS DIRECTOR

Margaret Wong, Business Director at SBMA (Singapore Bullion Market Association), brought valuable experience from her previous role at the World Gold Council (WGC). Her tenure at WGC provided her with extensive exposure to the gold community in Singapore and the broader region. This background has been instrumental in establishing strong working relationships within the industry.

Margaret’s role at SBMA encompasses a diverse range of responsibilities. She oversees office management, business support processes, finance, and administrative functions essential for the smooth operation of the team and management committee. Additionally, Margaret handles membership matters, member communications, and addresses public inquiries related to SBMA.

One of Margaret’s key responsibilities is coordinating with the Event Management Company for SBMA’s prestigious annual event, the Asia Pacific Precious Metals Conference. This flagship conference plays a crucial role in the industry, making her involvement pivotal in its success.

Described as resourceful and self-motivated, Margaret Wong brings a wealth of skills and experience to her role at SBMA, ensuring efficient operations and effective engagement within the precious metals community in Singapore and beyond.

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Albert Cheng

Chief Executive Officer

Albert Cheng joined the World Gold Council in March 1993 as a Regional Manager, becoming Managing Director, Far East in 2003. He retired at the end of March 2015 and was subsequently named its Advisor. He has also been an International Advisor to the Shanghai Gold Exchange since 2002.

His marketing career began with Dentsu Young & Rubicam, Hong Kong in the early 80’s. He began gold marketing in July 1985 when he joined the Royal Canadian Mint as a Regional Manager for Southeast Asia.

He was appointed honorary CEO of SBMA in November 2015. He is responsible for the success and strategic development of SBMA, represents the interests of the Association, and is responsible for all the legal and regulatory aspects of the work of the Association. He is the primary contact for regulators and government bodies on bullion market development.

Ms Pawan Nawawattanasub

Ms Pawan Nawawattanasub

CEO
YLG Bullion Singapore Pte Ltd

Pawan is the CEO of YLG Bullion Singapore and founder of YLG Bullion International. She has almost 40 years of experience in the jewellery industry and established YLG in Thailand in 2003. In 2012, she brought YLG to Singapore. She sits on the Board of Directors of the Thailand Gold Traders Association, the Thailand Futures Exchange’s Arbitration Committee, and the Rotary Bangkok committee. She holds a master’s degree in Political Science.

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Mr Shaokai Fan

Head of Asia-Pacific (ex China) and Global Head of Central Banks
World Gold Council
Shaokai Fan is the Global Head of Central Banks at the World Gold Council, responsible for advising governments on gold matters, and enhancing the gold market through engagement, dialogue, and thought leadership. He works directly with central banks and sovereign wealth funds on investment considerations. Prior to this position, Shaokai held multiple roles at Standard Chartered Bank, including Director for Asia Strategic Initiatives and Associate-Director for Public Sector coverage. Shaokai holds a Masters of Public Administration from Columbia University and the London School of Economics, and an undergraduate degree in finance and economics from New York University.

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Mr Alan Liew

Head of Bullion & Commodities Trading
United Overseas Bank Limited
Alan is Head of Bullion and Commodities Trading for Group Trading in Global Markets, United Overseas Bank (UOB). Alan joined UOB and started the bank’s commodities trading business in 2014, previously he spent eight years in Standard Chartered Bank (SCB) trading both precious and base metals. During his tenure at SCB, he obtained the SGE gold trader licence and was part of the pioneering team for the SGE business and the FX quantitative trading team. Prior to trading, he worked for Monetary Authority of Singapore in the Financial Risk Management Division. He holds a BSc (Hon) in Computer Science at National University of Singapore and a MSc in Financial Engineering at Nanyang Technological University.

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Mr Nikos Kavalis

Managing Director
Metals Focus Singapore Pte Ltd
Nikos Kavalis is a founding partner of Metals Focus. He has over 20 years of experience in precious metals, having previously worked for the Royal Bank of Scotland and GFMS. Since September 2019, Nikos has been based in Singapore, where he also runs the local subsidiary of Metals Focus.

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Mr Nuttapong Hirunyasiri

CEO
MTS Gold Global Trading Pte Ltd
Nuttapong Hirunyasiri is the CEO of MTS Gold Group, one of Thailand’s top 10 companies and top 3 bullion companies. He started MTS Gold Group’s first overseas office in Singapore and has been expanding the group business internationally. He focuses on product development and innovation for gold investment, with the aim of being a leader in providing the full suite of gold investment services in the ASEAN region.

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Mr Raman Walia

Executive Director, Head of Commodities Sales – APAC
JP Morgan Chase Bank N.A.

Raman is Executive Director and Head of Commodities Sales, APAC, for J.P. Morgan. He joined JPMorgan in 2008 in New York, moved to Singapore in 2011, and helped expand the precious metals business in the region. Raman has an MBA from Cornell University, and likes to travel in his spare time.

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Mr Andrew Clarke

Head of Brink’s Global Services
Brink’s Global Services Pte Ltd

Andrew Clarke is the Head of BGS (Brink’s Global Services) for Singapore, Indonesia, Malaysia and Brunei. He has held various leadership positions throughout his career in secure logistics and risk management with Brink’s, which started in Hong Kong in 2010. Andrew relocated to Singapore in 2018 to expand the precious metals line of business along with Brink’s portfolio of services and industries.

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Mr Kazuya Naoki

Head of Metals, Asia
ICBC Standard Bank Plc, Singapore Branch

Kazuya (Kaz) Naoki is the Head of Metals, Asia of ICBC Standard Bank in Singapore and is responsible for the precious & base metals sales and trading in the region. He joined Standard Bank Plc Tokyo Branch in 2008 and was relocated to its Singapore Branch in 2013 whose controlling stake was acquired by the Industrial and Commercial Bank of China in 2015. Prior to joining Standard Bank, Kaz spent 11 years focusing on commodity trading and risk management with Mitsui & Co in Tokyo, Sydney and London. Kaz has been serving on the SBMA Management Committee since 2016.

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Mr Vinh Nguyen

Head of Precious Metals, Asia
StoneX APAC Pte Ltd

Vinh Nguyen joined StoneX Group in Singapore at the beginning of 2008 and responsible for its APAC precious metals activities since 2019 until now.

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Mr KL Yap

General Manager, Singapore Refining Business Unit
Metalor Technologies (Singapore) Pte Ltd
KL YAP is the General Manager of Metalor Technologies (Singapore) Pte Ltd’s Singapore Refining Business Unit. He joined Metalor in 2013, initially in Refining Sales. In 2014, he became Refining Business Unit Manager, leading the development of a new precious metal refinery. KL was Vice Chairman of SBMA from 2017 to 2021, now serving as Chairman. With a degree in business commerce, finance, and marketing, he brings prior experience from refinery and heavy industries.