A smelter melts down the ore to extract the metal, while a refinery purifies the metal to remove impurities. Precious metal refineries are not to be confused with smelters or scrap metal plants. Precious metal refineries typically operate in countries with large reserves of gold, silver, and platinum. The metals may be purified and cast into ingots, bars, or coins. A Precious Metal Refinery is a place where precious metals are extracted from ores or scrap metal.
