Luxury & Fashion

May 1, 2016

Precious Metals – From Industry to Medicine

In the turbulent years before the Second World War, the young USSR (Union of the Soviet Socialist Republics) had as a strategic objective to increase its currency security and eliminate foreign exposure in precious metals. Thus, the Council of People's Commissars of the Communist Party of the USSR ordered to construct a refinery plant in the Siberian city of Krasnoyarsk, the Krastsvetmet factory. At that time, the country didn't have at its disposal neither the technology, nor the tools and facilities for the ancillary metals extraction, besides not having any experience in their processing.

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The success of the plant's scientists and engineers was such that they quickly managed to develop the know-how for gold extraction from middlings, and for the processing of ruthenium, rhodium and iridium, as well as to start the production process for all kinds of platinum group metals.

By the 1960s, the highly sophisticated manufacturing process was at its full swing: the semiconductor and mono-crystalline and polycrystalline silicon production was added to the metal processing lines, and in 1965, a research and experimental refining workshop had been established.

In the 1990s, the production of the plant was enriched by a separate manufacturing line that dealt with the production of platinum, gold and silver jewellery. The success of the line was recognized by a diploma "for ingenious use of native gold nuggets", at the Moscow International Exhibition of Jewellery, which inspired the opening of the company's jewellery store "Golden Chain".

Nowadays, Krastsvetmet's priority is to follow the development strategy ensuring not only expansion into the existing precious metals markets, but also the development of new markets. With this purpose, a number of new fields of activity were implemented in the beginning of the 21st century, such as: the production of precious metals chemical compounds for use in various types of catalysis; platinum-rhodium alloy catalyst systems production; the production of fine metal alloy wire, and later, platinum and platinum-rhodium alloy wire production for thermoelectric temperature transducers, and many others.

In 2003 Krastsvetmet was appointed to conduct the standardization procedures, fulfilling the functions of the Interstate Technical Committee for Standardization — ITC 102 "Platinum Group Metals".

Nowadays the production line of Krastsvetmet is quite large, producing refined precious metals in measured bullions, granules, and powders, of gold, silver, platinum, palladium for sectors such as industry, medicine, chemical industry and jewellery. The plant is involved in the industrial production of 42 precious metal compounds, including 20 compounds for catalysis, which are applied in the automotive exhaust converter production, catalysts for chemical and petrochemical industries, chemical compound synthesis, electroplating, resistor manufacture, anti-tumour medicine production and more.

Since Krastsvetmet is the exporter of its own precious metal compounds to many European countries, as well as the United States of America (USA), all the production corresponds both to Russian and to international standards. The plant follows the latest trends both in the scientific area and in the markets of precious metals, thus always meeting the requirements of its clients and customers.

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