Industry Analysis & Industry Trends
Since there are currently no commercial precious metal mines in the United Kingdom, operators in the Precious Metals Production industry recycle gold, silver and platinum group metals from a range of materials. Platinum sales are heavily influenced by the automotive industry as the commodity is used to manufacture catalytic converters, which help to clean exhaust gases. Gold and silver are both used to make jewellery and have a variety of industrial uses, but they are also popular with investors, who see them as a safe haven for their money when returns elsewhere are uncertain. This investment demand means gold and silver prices fluctuate much more radically than would otherwise be expected.
Fluctuations in global financial markets mean industry revenue has been very volatile... purchase to read more
Industry Report - Industry Locations Chapter
Operators in the Precious Metals production industry are mainly found in London and the West Midlands; no other region has more than 10% of industry establishments.
London has the highest proportion of industry establishments. It has long been a focus of both domestic and global trade in precious metals, so melt shops and other refining facilities were established there to be close to the physical market of precious metals. Some of those facilities, including that owned by Baird & Co, still have a central location. Originally, Johnson Matthey's refinery was also in London, but the focus of its activity shifted to the North East with the construction of a new refinery there in the late 1950s... purchase to read more