Procedures for Inclusion in the Good Delivery List
Refiners of Platinum and Palladium wishing to be included must first apply to the Chairman or Secretary of the Market. Before considering an application, the Market will satisfy itself as to the financial standing, reputation and production capacity of the applicant. Usually a separate application will be required for each refinery.
An applicant is unlikely to receive favourable consideration unless the company has been in existence for not less than five years and has had an annual production of platinum and/or palladium of not less than five hundred kilos, in the form of Good Delivery metal, for a minimum of the last three consecutive years.
The Platinum List The procedure requires the applicant to submit not less than three plates or ingots from typical production, a separate weight note showing the weight and purity of each plate or ingot, together with ten colour photographs and drawings of their stamps or their marks.
The Palladium List The plates or ingots will be sent to referees for testing. Weights will be verified using a beam balance. Samples will be taken in the most appropriate way depending upon the form of the ingot or plate. The referees will be asked to assay the metal using spectrographic analysis techniques for detection of impurity elements.
When all requirements are met to the satisfaction of the Management Committee the applicant’s name will be added to the Good Delivery List.All applications whether successful or not are subject to fees charged by the assayers and the LPPM inclusive of VAT where appropriate.
When the application has been processed, the after testing weight of metal may be sold by arrangement with the applicant, or an equivalent weight returned to the applicant subject to settlement of outstanding fees.