Experts of the London Bullion Market Association have recognized silver bullion produced at the head enterprise of the Ural Mining and Metallurgical Company (UMMC) of AO Uralelektromed as reference. This was reported today in the press-service of UMMC. “Ural silver bullion produced by AO Uralelektromed were recognized as the reference. Such a conclusion was made in the London Bullion Market Association. The experts have chosen among 70 products of refineries with the status ‘Reliable delivery’,” said at UMMC. At the Ural enterprise, silver is obtained from copper electrolyte sludge that results from the production of pure copper. “The quality of our products are primarily provided by our own technology. It produces ingots containing 99.99% of silver. The products have virtually no impurities, which is our main competitive advantage”, the press service quoted Alexey Korolev, the chief engineer at AO Uralelektromed. Annually, AO Uralelektromed produces about 250 tons of silver. In August 2004, the Ural plant has become the world's first steel plant included in the list of recognized producers of precious metals, and refined silver was certified Good Delivery. In May 2006, their refined gold received a similar status. Prior to that, such a status was given to products exclusively of specialized refining plants.
UMMC is a Russian steel company, the largest copper producer in Russia. The holding, uniting more than 40 companies in 15 regions of Russia, as well as the Czech Republic and Serbia, provides employment for more than 80 thousand employees.