Three Swiss Gold Refineries Announce Partial Resumption of Operations
Accordingly, Valcambi and PAMP would resume operations at less than 50% capacity.
SEATTLE (Scrap Monster): Three Swiss gold refineries, which had temporarily suspended their operations due to virus threat, have announced partial resumption of operations, after almost two weeks.
The three refineries- Valcambi, Argor-Heraeus and PAMP were shut on March 20th, following the Ticino local government order to close all non-essential industrial operations to contain the spread of the virus.
As per reports, PAMP has received permission to restart operations. Meantime, Valcambi and Argor confirmed that they have received government approval for partial reopening of the refining facilities with effect from April 6th, 2020. All the three facilities have been directed to operate under stricter hygiene and safety precautions.
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Accordingly, Valcambi and PAMP would resume operations at less than 50% capacity. Argor too has announced that it will run the facility at reduced levels. The refiner will split the total workforce so as to run three shifts per day, thereby ensuring reduced workforce at the facility at any point of time.
It is estimated that the three refineries together process around 1,500 tonnes of gold, in addition to silver and other precious metals.
The restart of the Swiss gold refineries is expected to ease supply shortages in the world gold market in the coming weeks.
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