Gold refining, Ticino (Switzerland)

Switzerland is the planet's leading gold-refining hub: commonly cited figures put its share at ≈65-70% of the world's gold, while Swiss customs record ≈2,372 t of gold imported and ≈1,564 t re-exported as refined bars in 2023 (swissinfo estimates roughly a third of newly mined gold passes through the country). Three of Switzerland's four major refineries sit side by side in the Ticino Mendrisiotto, on the Italian border: Valcambi (Balerna, the world's largest), MKS PAMP (Castel San Pietro) and Argor-Heraeus (Mendrisio); Metalor is in Neuchâtel. A discreet node of a few square kilometers through which most of the world's physical gold passes.