OJSC Krastsvetmet

OJSC Krastsvetmet

Gulidov Krasnoyarsk Non-Ferrous Metals Plant (Krastsvetmet for short) is the largest gold (and platinum) refinery in Russia.

The Company

Krastsvetmet’s headquarters and refineries are located near Krasnoïarsk, Siberia.

The company was created during war-time in 1943 to increase the USSR’s monetary security and eliminate exposure to foreign strategic metals.

The gold refinery opened in 1959, but its production was relatively weak for the next 35 years.

Starting in the mid-1990s, when Russian gold refiners were authorized to act independently and compete with one other, the company grew rapidly, becoming the largest refiner of newly-extracted gold in Russia.

The company, which became an Open Joint Stock Company (OSJC) in 1994, belongs entirely to the region of Krasnoïarsk. OJSC status means it is led by a board, which gives it more freedom.

Refining – Products

The production and refining processes at Krastsvetmet are constantly evolving due to, notably, the establishment of a research and development section.

The refinery produces 250 metric tons of gold and 1,000 metric tons of silver yearly, which accounts for more than 60% of all the gold and silver extracted in Russia.

Krastsvetmet does not offer that many products, with only three gold bars available: 500g, 1kg and 400oz (London Good Delivery).

The company may, by request, fabricate smaller bars (50g, 20g and 250g) as well as personalized ingots for external entities.
Krastsvetmet produces 1,000oz silver bars only.

Bars are made of 99.99% pure gold and silver. They are struck with a serial number, the refinery’s logo (the letter K with a crown on top) and the inscription “Russia” in a circle.

Other Services

Beside gold refining, waste recycling and bar fabrication, the company makes gold, platinum and palladium products for the jewelry industry. A jewel fabrication unit has even been created.

Krastsvetmet is also known for refining 90% of the platinum and palladium mined in Russia.

Accreditations and certificates

Since 1999, Krastsvetmet is on the official and very selective list of gold refiners certified by the LBMA. Their products are accredited Good Delivery, which ensures the refinery meets all standards of fineness and quality.

Krastsvetmet is also accredited by the Dubai Multi Commodity Centre (DMCC).

Other international certifications have come to the company for its management and internal organization efforts, such as ISO 9001, ISO 14001 and OHSAS 18001.