Auramet International Inc joins LBMA as an Affiliate Member
What were the reasons for you wanting to join LBMA and what do you see as the key benefits of membership?
We wanted to be affiliated with leading industry organisations that share our core values and provide us with a recognised platform to demonstrate that we meet all the high standards our industry demands. As a company that has long prided itself on its ability to build, maintain, and continuously improve relationships, Auramet wanted to formalise its connection with LBMA and help us ensure that the highest levels of integrity, transparency, and trust – qualities that LBMA has attained and promoted since its founding – are maintained.
Tell us about your company’s role in the precious metals market?
Since 2004, we have been a leading global provider of physical precious metals trading and a financial services company staffed on five continents with metal traders, former bankers, geologists, metallurgists, and mining engineers and lawyers. Auramet provides solutions that draw from decades of financial, commercial, technical, and legal experience. Through our longstanding and deep relationships, we provide an array of offtake, financial, hedging, logistical and advisory solutions individually tailored to our client base.
What’s the background and history of the company?
The four founders of Auramet had worked closely together in the precious metals space for many years, during which time they collectively envisioned starting a relationship-driven company within the industry that offered best-in-class services to its clients. They launched Auramet in 2004 and spent the next two decades enhancing the relationships they had built earlier in their careers, developing new ones across the globe, and buying/selling precious metals in a safe, efficient and responsible manner.
What factors do you expect to impact your business in the short to long term?
Geopolitical uncertainty today, and in the near future, will continue to impact our business as we have seen unprecedented volatility in gold this year. However, as a liquidity provider, we are optimistic that this uncertainty means we will continue to have an important role to play in this space.
What are your future plans for the business?
Auramet wants to continue the measured but steady growth, client by client, that has defined our company over the past twenty years, leveraging the exceptionally experienced team we have in place while keeping a strong focus on maintaining the very highest levels of ethical standards that we demand from both our counterparties and ourselves.
