Istanbul Gold Refinery (IGR) – Incident Review Process Invoked

# Istanbul Gold Refinery (IGR) – Incident Review Process Invoked October 09, 2025 As an independent authority for the precious metals industry, LBMA’s role is to advance standards and promote good trading practices for banks, traders and refiners operating in the global precious metals industry. The Incident Review Process (IRP) has been invoked to review matters that have been raised in connection with Istanbul Gold Refinery (IGR) regarding recent reports concerning an investigation by Turkish authorities. This process involves consultation with a range of stakeholders. LBMA remains focused on a transparent and rigorous approach and will advise of further updates in due course. ## Istanbul Gold Refinery remains a Good Delivery Refiner LBMA has requested a formal statement from IGR and will continue to engage constructively with the Refiner, its assurance provider, and relevant stakeholders to ensure that all matters are reviewed in line with the Responsible Sourcing Programme and Good Delivery Rules. ## Background The London Good Delivery List of Acceptable Refiners of gold and silver is maintained by LBMA, by whom it is copyrighted. It lists those refineries whose gold and silver bars have been found, when originally tested, to meet the required standard for acceptability in the London bullion market.