Compliance pressure is rising.
Traceability is now commercial.
Is your refinery built for it?

LBMA transparency requirements, responsible sourcing scrutiny, and supplier KYC at scale are no longer just regulatory obligations — they're competitive differentiators for refiners who get them right and existential risks for those who do not.

Abhay Khurana
Founder ·14 years digital marketing · Precious metals industry specialist
66
LBMA Gold Good Delivery list refiners — accreditation requirements are tightening
30%
Of refiner working capital stress attributable to settlement delays and cash flow cycle gaps
£50k+
Typical advisory project value for a mid-sized refiner engagement
Scrap refiners · Toll refiners · Recycling facilities LBMA · OECD due diligence framework Global — all markets welcome Compliance · Systems · Growth Advisory

The commercial reality for refiners in 2026

Transparency is no longer optional. It's a commercial requirement.

The precious metals refining sector's under more transparency and traceability pressure than at any point in its recent history. LBMA has accelerated its responsible sourcing requirements. Large downstream buyers — jewellery manufacturers, electronics companies, investment banks — are demanding documented supply chain due diligence that goes significantly further than what was required five years ago. Refiners that can demonstrate it are winning supply contracts that those without it aren't. and compliance infrastructure are winning supply contracts that refiners without it are losing.

At the same time, operational complexity in refining has increased. Settlement disputes, supplier KYC documentation burdens, internal reporting fragmentation, and working capital cycle management all create friction that compounds as volume grows. The refiners that'll outperform in the next decade are the ones building proper operational infrastructure now — not those continuing to run complex, high-value operations on spreadsheets and institutional memory.

""Refinery advisory is the highest-value work we do — and the most impactful. When you help a mid-sized refiner build a proper supplier onboarding system, automate their compliance documentation, and give management a real-time view of their operational cycle, you're not just improving efficiency. You're building a competitive moat that takes years to replicate.""
Abhay Khurana — Founder, Precious Metals Growth Advisory

The primary challenges refiners come to us with

Pain 1
Responsible sourcing documentation
LBMA and OECD due diligence requirements for responsible sourcing have become significantly more demanding. Refiners need documented supplier risk assessments, country-of-origin verification, and audit trails that can withstand external scrutiny.
Pain 2
Supplier onboarding KYC at scale
As supplier networks grow, manual KYC onboarding creates a bottleneck. Documentation is inconsistent, stored in different formats, and difficult to retrieve during audits. A digital supplier onboarding workflow solves all of this at scale.
Pain 3
Settlement delays and working capital
Delays in settlement between buying feedstock, completing the refining cycle, and receiving payment create working capital stress that compounds with volume. Identifying and reducing friction in each stage of the settlement cycle is a significant margin opportunity.
Pain 4
Fragmented internal reporting
Most refiners operate with reporting spread across spreadsheets, accounting software, and informal records. A unified operational dashboard giving real-time visibility into throughput, yield, feedstock pipeline, and settlement status transforms management decision-making.
Pain 5
No digital B2B presence
Most refiners have virtually no digital presence for B2B feedstock acquisition. A well-structured website demonstrating LBMA compliance, settlement terms, and technical capability can meaningfully expand the addressable supplier base beyond existing relationships.
Pain 6
Inconsistent internal SOPs
In many refineries, operational knowledge lives in people's heads, not documented systems. That's a continuity risk you don't want. This creates continuity risk and makes consistent compliance enforcement across shifts and teams extremely difficult.

Questions from refinery operators

  • For refiners, the primary advisory focus is on compliance and traceability infrastructure to meet LBMA and responsible sourcing requirements, supplier onboarding workflow digitalisation to handle KYC and documentation at scale, and operational reporting systems that give management visibility across the full refining cycle. We also work on digital presence and B2B lead generation for refiners seeking to diversify or grow their feedstock supply base.

  • Refiners face increasing compliance burden driven by LBMA transparency requirements, OECD Due Diligence Guidance for responsible minerals supply chains, anti-money laundering obligations, and sanctions screening requirements. LBMA currently lists 66 gold refiners on its Good Delivery list, and accreditation requirements around responsible sourcing documentation have become significantly more demanding in recent years.

  • Most refiners rely on existing relationships and word of mouth for feedstock. A digital B2B presence demonstrating LBMA compliance, settlement terms, and technical capability can meaningfully expand the addressable supplier base. Search visibility for terms like scrap gold refining services and precious metal recycling company puts the refiner in front of aggregators and scrap dealers actively seeking refining partners.

Compliance is tightening. Is your refinery ahead of it?

Book a free advisory call. We'll review your compliance infrastructure, operational workflow, and growth constraints — and show you where the highest-value improvements sit.

Free advisory session No obligation Engagements from £5k