Factors to look for while choosing a precious metal manufacturer

Technology is a prevalent aspect of our lives. So is its upgradation owing to changing needs and innovation. This results in modifying its inner workings and elements like printed circuit board assemblies, connectors, etc. However, these are more than just industrial scraps. They hold an intrinsic value that gets retrieved for maximum returns.

Precious metals like gold, silver, platinum, etc., are recoverable from these devices and parts by a precious metal manufacturer. Due to volatility in prices, their timely recovery also becomes essential. That is why a refinery should have high-end technology to unlock maximum value with the quickest turnaround time. This is dependant on various factors which you should check as a customer.

Transparency: Having a detailed understanding of the operation is helpful. A refinery conducts weighing, sampling, and several analytical tests during recovery. These steps get recorded for your perusal. So, make sure that this practice is followed by the precious metal refiners while selecting them. It helps during the settlement process and in evaluating the concluded price.

Credibility: It is a crucial consideration to get the maximum value for the extracted precious metals. It is best to check the manufacturer's certification, practices, and goodwill for an informed decision. International accreditation from prestigious entities adds to the reputation. Besides, it is essential to check if the Quality Management Standards such as ISO 9001, ISO 14001, ISO 45001, etc., are met.

Environmental obligation: Right from transportation to recovery, maintaining ecological safety is crucial. Hence, a precious metal refining company needs to adhere to environmental regulations. Here, both the material owner and the refiner are held responsible for compliance. So, it becomes crucial to do due diligence while selecting the manufacturer. For this, examine the initiative taken by them to reduce adverse impact and resource preservation.

Infrastructure: The technologies and equipment used by the precious metal manufacturing company determine the returns. These are concerning the purity and the value that gets extracted from the scraps. Hence, it is paramount that only the latest and constantly upgraded mechanism gets used. You get to know this by studying the sampling and analytic techniques adopted by the company.

Besides, having an in-house laboratory boost reliability and eliminates outsourcing costs. Ensure to inspect if the same gets recognised by the National Accreditation Board for Testing and Calibration Laboratories (NABL). It is a sole quality control board authorised by the Indian government.

Approach: Some refineries act as a middle person that is the point of contact between you and the manufacturer. It means they do not directly carry out the process. Some of them also outsource specific procedures. This results in higher costs which reflects in the price you pay. So, make sure to check if you are dealing with a direct manufacturer or an intermediate company. It is easily traceable by understanding the experience and trajectory of the refinery.

Sarvesh Velankar is an Asst. Marketing Officer in one of the best Precious Metal Manufacture company which offers precious metal refiners India.