The London Bullion Market Association (LBMA) said it is reviewing allegations implicating Indonesian state miner Aneka Tambang (Antam) over the purity of its gold products.
Aneka Tambang last week denied reports that there are 109 tons of counterfeit ANTAM gold circulating in the community in the period 2010-2021.
“All of ANTAM’s precious metal gold products (are) derived with official certificates, and processed in Indonesia’s only gold processing and refining plant that has been certified by the London Bullion Market Association,” the company said in a statement. announced on Wednesday.
The LBMA, an industry body whose standards for gold refiners require them to source gold responsibly, said an Incident Review Process (IRP) has been invoked to review the current circumstances, although it is difficult to commit to a schedule, given that this process involves numerous stakeholders.
Aneka Tambang currently remains on the LBMA Good Deliveries List, the London-based gold refinery accreditor said. (Reporting by Swati Verma in Bengaluru; Editing by Michael Perry)
