Valcambi plans new gold refinery in Hong Kong to boost bullion hub

Valcambi: Valcambi SA is a Swiss-based precious metals refinery that processes gold, silver, and platinum group metals, offering refining, assaying, fabrication of bars and other products, and related services to global clients. The company maintains its primary operations in Balerna, Switzerland, and is recognized as one of the largest refiners in the industry. It recently signed a letter of intent with Hong Kong’s Shiu Wing Steel to establish a new precious metals refining and vaulting facility in the city, marking its first expansion outside Switzerland and directly supporting Hong Kong’s development of a comprehensive bullion trading ecosystem. Regional Competition: Hong Kong is actively competing with Singapore to develop Asia’s leading gold trading hub, with both centers courting international banks, central banks, and industry participants through new services and infrastructure. Government Initiative: Hong Kong’s Secretary for Financial Services and the Treasury visited multiple Swiss gold refiners to promote expansion and new facilities in the city as part of building an integrated gold trading ecosystem covering trading, clearing, storage, refining, and risk management. Infrastructure Development: Hong Kong recently launched trial operations of a gold clearing and settlement system and is advancing connections to its real-time gross settlement platform while engaging the London Bullion Market Association on delivery standards.