ISSUE 98 August 2020 VALUE CHAIN FOR PRECIOUS Transported by METALS Land or Air Transported by • Industrial Land, Sea or Air • Grain Fabrication • Semi Finished Products • Large & Small bar Dore Fabrication fabrication CUSTOMS CUSTOMS Transit Vault Transit Vault • Store Extraction Deliver to Refinery/Inside Refinery • Pick & Pack • Inventory & Value Added Services • Assay RISK & SECURITY Transit GEOLOGICALFEASIBILITY SURVEY STUDY Transported CUSTOMS • Industrial Factory by Land or Air Vault Exploration • Jewellery Factory CUSTOMS • Retail CONSTRUCTION FINANCING Destination Delivery & Collection Transported by Land or Air First Annual Responsible Sourcing Report with Country of Origin Data – Out in September page 16 COVID-19 Extraordinary Golden Cities and Rise of ETFs of the World - Beyond in 2020 Nome, Alaska page 4 page 9 page 13 LBMA ASSAYING AND REFINING CONFERENCE 2021 14 - 17 March Hilton London Tower Bridge, London, UK REGISTRATION OPENS SOON! • Meet leading industry figures and specialists • Comprehensive programme, technical sessions and expert speakers • Exceptional networking opportunities Don’t miss out! INTERESTED IN SPONSORING OR EXHIBITING? Enquire Now
[email protected] www.lbma.org.uk/events ALCHEMIST ISSUE 98 EDITORIAL BY SIMON POTTER, FORMER LBMA NON-EXECUTIVE DIRECTOR ISSUE HIGHLIGHTS Unfortunately, in July, I had to leave my COVID-19 and beyond: Implications for Precious Metals role as a Non-Executive Director (NED) By Dr. Jonathan Butler, page 4 as I am entering full-time employment in The Extraordinary Rise of the financial services sector. For good ETF Holdings in 2020 governance reasons, I believe this is the By John Reade, page 9 appropriate action for all parties. The following is a “THE STRANGEST COMMUNITY” review of my time as a director and is written in the Golden Cities of the World – Nome, Alaska spirit of transparency with which LBMA conducts By Simon Rostron, page 13 all its work.