Gold refining insights from Good Delivery accredited OPM Metals...
CONOR DULLAGHAN is executive vice president of Elemetal and president of OPM Metals (Ohio Precious Metals), the US-owned refiner of London Good Delivery gold bullion bars and a major supplier of silver bars to the US market.
This week he joined me on New York Markets Live to talk about where the gold and silver refining business is right now, and the challenges it faces both from volatile prices and growing regulatory over-sight of precious metals production.
"We've had to work harder and dig in to win market share," said Conor Dullaghan. "We developed a new process to produce certified 100% recycled gold and silver, and conflict-free products through the supply chain."
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Accepted to the London Bullion Market Association's prestigious Good Delivery list for gold bar production in December 2013, OPM Metals employs 250 people in a 168,000 square foot facility in Jackson Ohio. Most crucially in the competitive world of precious metals refining, OPM seeks to be a leader in adopting sustainable business practices.
On this week's show I asked Conor about changes in the refining industry and how the dip in gold price is impacting the industry.
He explained how OPM maintains certifications from some of the world's most respected authorities on humane and environmental processes and manufacturing practices. Dullaghan himself holds several patents in precious metals processes, publishing many papers and with his work cited hundreds of times.
Conor Dullaghan received his BSc (Hons) in Science with Business from the University of Ulster, Northern Ireland, and then his PhD in chemistry from Brown University in 1998.
He has worked at Lucent Technologies and Metalor Technologies, prior to joining OPM in September 2011. Mr.Dullaghan has been involved in many other aspects of the precious metals business, including R&D, sales and marketing and general management.
Speaking to me this week, he also discusses the process by which customers come to the OPM facility in Ohio to have precious metals refined, assessed, shipped or stored in vaults.
Hear the full 30-minute interview here.
