Established in 1988, United Precious Metals Refining (United) was founded by previous employees of the former P.M. Refining Co. in Buffalo, NY. A team of well experienced management, sales, office, assaying, refining, melting and fabrication personnel found a new home at United when the company was formed. They spent the first few months setting up new equipment, furnaces, ventilation, electrical and plumbing installations, offices, gold and silver refining equipment and obtaining the necessary permits to execute the business properly.
The first batch of gold scrap was refined by the Aqua-Regia process in April 1988 using large Pyrex crocks on hot plates to dissolve the gold scrap and sulfur dioxide gas as a reducer. The first month’s production was approximately 2,500 T/oz of fine gold. As business increased, their output kept increasing and within three years, they had outgrown their existing equipment.