Technical experts have worked to significantly update five Australian Standards to incorporate changes in technology and revise testing methods for accurately analyzing gold and silver bullion.
“Australia is well known for our industrial economy and our minerals are sought after right across the globe,” Standards Australia Acting CEO Adrian O’Connell said.
“These standards are aimed at giving the industry even better guidance to ensure our minerals remain highly sought after and our domestic mining and manufacturing sectors remain strong.”
“Australia has a longstanding, documented history of commitment to the precious metals refining and mining industries and the publication of these latest standards are proof that Standards Australia supports this industry.”
The standards published as part of AS 3515 and AS 5006 series have implications for upstream and downstream processes in the supply chain, with gold miners and coining and jewellery manufacturers benefiting from the revised guidance in these standards.
Chair of Standards Australia’s technical committee, Michael Koch, said, “The gold mining and refining industries are perhaps the key beneficiaries given the improvements to the accuracy will guide testing and compliance efforts to meet industry best practice methods.
“The standards provide increased trading certainty for companies which rely on these standards for refining, trading and marketing in precious metals,” Koch added.