This 1,000 ounce silver bar is produced by the largest refiner in the largest nation in the world. With the capacity to turn out some 1,000 metric tons of silver and 250 metric tons of gold every year, OJSC Krastsvetmet refines more than 57% of all the silver, 53% of all the gold, and 96% of all the platinum group metals extracted in Russia. Furthermore, the company’s development strategy calls for this output to increase by 70% by the year 2025.
Its bullion products meet all applicable international standards and are included on the Good Delivery Lists in London, New York, Dubai, Tokyo, and Shanghai. In September 2016, the Shanghai Gold Exchange granted Krastsvetmet status as a certified gold ingot supplier.
Each standard 1,000 ounce silver bar bears its individual serial number, purity (99.99), the year of production and the word Russia (in the Cyrillic alphabet) inside of an oval circle. Its London Bullion Market Association certification ensures its content and quality. Please feel free to pose questions you may have to one of our precious metal experts.
With its track record and development plans, there is a strong argument to be made that Russia’s largest refiner may be poised to become the world’s largest.
As an OJSC (Open Joint Stock Company), Krastsvetmet is wholly owned by the region of Krasnoïarsk in Siberia. It was created during the Second World War to refine platinum and palladium, and began refining gold in 1959. Like other Russian refineries, it experienced rapid growth after the political and economic policy changes of the 1990s. In 1994, it began production of jewelry. Most recent numbers show that its jewelry division is selling some 5 metric tons of gold jewelry and over 1 metric ton of silver jewelry per year.
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