To date, ABC Refinery has achieved a number of impressive milestones under the guidance of Phillip Cochineas. During the 2010s, ABC Refinery became the manufacturer for the Lexus Melbourne Cup and gained accreditation from both the LBMA and the SGE – becoming the only independent refinery in Australia to do so.
During this period, ABC Refinery also upgraded its refining technology with acidless separation, which is the most advanced form of gold separation on the planet. At the time, Cochineas expressed his delight at this development and reminded observers that ABC Refinery was the first Australian refinery to adopt this energy-efficient and environmentally-friendly process. This process is also safer for ABC’s employees, which is another major priority for Phillip Cochineas.
Further technological advances came in 2020, when ABC Refinery partnered with Blockhead Technologies to use blockchain systems to trace and verify its gold bullion. That year, the company was also integrated into Pallion’s upgraded digital platform, allowing jewellers to instantly receive quotes from ABC Refinery for things new designs, fabricated metals, prints, and much more.
Under Phillip’s leadership, ABC Refinery has also become a much more prominent player on the international stage. Throughout 2020, the company enjoyed a boosted reputation thanks to an important new accreditation from the CME Group, one of the world’s largest gold exchanges. The CME group is responsible for the trade of $70 billion worth of gold (27 million ounces) each day.
This came at a time when Cochineas was taking full advantage of a new, unprecedented level of demand for Australian gold. The move to pursue CME accreditation opened up an entirely new market for ABC Refinery. After this development, ABC’s Bullion was free to trade on the New York Commodities Exchange (COMEX), a market which has a history of dictating the price of gold over the years. This successful accreditation process was due in large part to Cochineas’ focus on ethical sourcing, advanced refining processes, and transparency.
ABC Refinery now holds a number of important accreditations. In addition to its CME and LMBA accreditations, the company holds further accreditations from the Shanghai Gold Exchange (SGE). This means that ABC Refinery is the only refinery in Australia to hold all three accreditations. The fact that the company is recognized by so many internationally-renowned bullion organizations means that it’s well-positioned for future growth.
On the other hand, Phillip Cochineas was quick to emphasize ABC’s continued focus on domestic markets after these new accreditations. With the rise of Covid-19, the fragility of a global economy has been highlighted around the world. Because ABC Refinery refines 20% of the gold mined in Australia, jewellers across the country will have a steady, reliable supply of gold from local sources – regardless of international turmoil. In addition, jewellers are more concerned than ever before about the ethical sourcing of their gold, and Australia’s mines adhere to famously high standards in this regard.
With all of these factors taken into account, it’s safe to say that Phillip’s long-term vision as Marketing Director for ABC Refinery has been a resounding success.