MKS PAMP

MKS PAMP is a Swiss precious-metals company whose activities span bullion trading, refining, fabrication, minting, vaulting and storage. The business traces its operating history to PAMP SA, a refining and precious-metals fabrication company established in Castel San Pietro, Ticino, in 1977, and to MKS (Switzerland) SA, a Geneva-based trading business founded in 1979 by Mahmoud Kassem Shakarchi. MKS acquired a majority interest in PAMP in 1981, linking a trading operation with a refinery and mint and creating the foundation for the integrated structure associated with the MKS PAMP name. The group serves banks, institutional investors, industrial users, jewellers, governments, refiners, mining companies and other participants in international bullion markets. Its trading and treasury activities are based primarily in Geneva, while its major refining and minting site is in Castel San Pietro. The company has also maintained trading and commercial operations in other important precious-metals centres, including New York and Hong Kong. Its product scope includes cast and minted bars made from gold, silver, platinum and palladium, together with services connected to physical-metal transactions, custody, logistics and storage. PAMP developed a strong position in the global bullion industry through refinery accreditation, branded bars and relationships with professional market participants. In 2003, PAMP was appointed an Approved Referee for the London Bullion Market Association's Good Delivery system. MKS PAMP is also associated with the London Platinum and Palladium Market's Good Delivery framework and is described as one of the limited number of refiners recognised as a Good Delivery Referee by both organisations. These accreditations are significant because they relate to the technical standards, assaying and quality controls used in institutional precious-metals markets. The corporate structure was consolidated in 2021, when MKS (Switzerland) SA and PAMP SA merged to form MKS PAMP SA. The transaction brought trading, refining, fabrication and minting activities under one legal entity while retaining the broader MKS PAMP GROUP identity. The group has subsequently developed activities connected with tokenised precious-metals products; reference material states that it acquired full ownership of Gold Token S.A. in November 2025. Sustainability and responsible sourcing have become increasingly visible elements of the company's public positioning. In 2022, MKS PAMP became the first precious-metals company reported to have science-based emissions-reduction targets approved by the Science Based Targets initiative. It also introduced products whose carbon footprints were independently verified by the Carbon Trust. At the same time, the company has faced scrutiny over the provenance and social and environmental effects of metals entering its supply chain. Allegations and disputes have concerned gold associated with pollution at Liberia's New Liberty Mine, limited public access to Swiss refinery import data, and claims regarding violence and land control in artisanal-mining areas of Burkina Faso. MKS PAMP is therefore best understood not simply as a broker, but as an integrated precious-metals enterprise. Its business model combines market intermediation with physical transformation and manufacturing, allowing it to participate in the movement of metal from mining and recycling through refining, bar production, investment distribution, custody and, increasingly, digital or tokenised representations of precious metals.

MKS PAMP grew from the combination of two Swiss precious-metals businesses with complementary capabilities. PAMP SA, whose name derives from Produits Artistiques Métaux Précieux, began operations in 1977 in Castel San Pietro in the canton of Ticino. It focused on refining and fabricating precious metals and later became known internationally for investment bars and minted products. MKS (Switzerland) SA was established in Geneva in 1979 by Mahmoud Kassem Shakarchi as a precious-metals trading company. In 1981, MKS acquired a majority stake in PAMP. This extended the group's activities beyond trading into refining, fabrication and minting, giving it greater control over the physical-metal value chain. After Mahmoud Shakarchi died in 1983, his children Karma and Marwan Shakarchi assumed leadership roles. The business subsequently expanded its presence in international bullion centres, including New York and Hong Kong, while retaining Geneva as an important base for trading and treasury functions. A significant institutional milestone came in 2003, when PAMP was appointed an Approved Referee for the London Bullion Market Association's Good Delivery system. Good Delivery recognition is central to professional bullion markets because it concerns the quality, form, weight and assaying standards required for bars traded among approved institutions. MKS PAMP is also connected with the London Platinum and Palladium Market's Good Delivery system and is described as a rare refinery recognised as a referee by both markets. The company's operating footprint has remained divided between commercial and industrial functions. Geneva hosts trading and treasury activity, while Castel San Pietro houses major refining and minting operations. The company produces cast and minted bars in gold, silver, platinum and palladium and provides associated services such as trading, vaulting, storage and physical-metal logistics. Its customers and counterparties include financial institutions and other participants in the international precious-metals industry. In 2021, MKS (Switzerland) SA and PAMP SA merged to form MKS PAMP SA. The merger unified the principal trading, refining, fabrication and minting operations within one legal structure and formalised the integrated business model that had developed since the 1981 acquisition. The wider MKS PAMP GROUP continues to be the principal group identity associated with the business. Environmental and supply-chain responsibility became more prominent in the 2020s. In 2022, MKS PAMP reported that its science-based emissions-reduction targets had been approved by the Science Based Targets initiative. It also launched products carrying independently verified carbon-footprint information through the Carbon Trust. These steps supported a sustainability-oriented market position, although the broader precious-metals supply chain remained subject to questions about mine pollution, human rights, traceability and transparency. A dispute concerning gold from Liberia's New Liberty Mine highlighted those concerns. Reference material states that gold from the mine reached MKS PAMP's Swiss refinery during 2015 and 2016, after pollution incidents involving cyanide and arsenic. Affected communities reported health and environmental impacts and pursued a mediation process involving European development banks. Separately, the Society for Threatened Peoples sought import data from Swiss refiners. In 2022, the Swiss Federal Court ruled against the NGO, holding that relevant data was protected by tax and business-secrecy rules. Critics argued that the decision reduced public scrutiny of refinery supply chains. In 2025, the company became the subject of another public controversy after a meeting involving Swiss business representatives and Donald Trump. An MKS PAMP chief executive reportedly presented an engraved gold bar, while another executive gave a Rolex desk clock. The company stated that the items were intended for the Presidential Library and had been cleared with White House ethics counsel. Swiss legal commentators and parliamentarians nevertheless questioned whether the gifts could constitute undue advantages under Swiss law, particularly given the surrounding tariff discussions. The Swiss government described the meeting as a private initiative. The same period also saw the group move further into tokenised precious metals. Reference material states that MKS PAMP acquired full ownership of Gold Token S.A. in November 2025. This indicates an effort to extend the group's established physical bullion capabilities into digital representations or services linked to precious-metal ownership. MKS PAMP's present identity is consequently built around an integrated combination of trading, refining, branded bullion manufacture, institutional accreditation, storage and emerging digital-metal initiatives.

1. 2025Gold Token S.A. becomes wholly owned

   MKS PAMP acquires full ownership of Gold Token S.A. in connection with tokenised precious-metals activities.

   Source
2. 2022Science-based targets are approved

   MKS PAMP reports approval of emissions-reduction targets by the Science Based Targets initiative.

   Source
3. 2022Carbon-footprint-verified products are introduced

   The company launches products whose carbon footprints have been independently verified by the Carbon Trust.

   Source
4. 2021MKS and PAMP merge

   MKS (Switzerland) SA and PAMP SA combine to form MKS PAMP SA.

   Source
5. 2003PAMP becomes an LBMA Approved Referee

   PAMP is appointed an Approved Referee for the London Bullion Market Association Good Delivery system.

   Source
6. 1983Karma and Marwan Shakarchi assume leadership

   Following Mahmoud Shakarchi's death, his children take on leadership of the business.

   Source
7. 1981MKS acquires a majority stake in PAMP

   The acquisition links precious-metals trading with refining, fabrication and minting operations.

   Source
8. 1979MKS (Switzerland) SA is established

   Mahmoud Kassem Shakarchi establishes a Geneva-based precious-metals trading company.

   Source
9. 1977PAMP SA is founded in Ticino

   PAMP SA begins as a precious-metals refining and fabrication business in Castel San Pietro, Switzerland.

   Source

An integrated, internationally accredited precious-metals specialist serving institutional and professional markets through trading, refining, fabrication, minting, custody and storage.

• Gold bullion barsPrecious-metals bullion

  MKS PAMP refines and fabricates gold into cast and minted bars for institutional, professional and investment markets. The bars are produced within a quality-control framework associated with international bullion-market standards and the PAMP brand. They form one of the company's core physical products and are distributed through professional precious-metals channels.

• Silver bullion barsPrecious-metals bullion

  The company produces silver bars in cast and minted formats. Silver refining and fabrication complement its gold business and serve investors, industrial users, financial institutions and other bullion-market participants. Specific weights, designs and distribution arrangements vary by product and market.

• Platinum bullion barsPrecious-metals bullion

  MKS PAMP refines and fabricates platinum into investment and professional-market bars. Platinum products are part of the group's wider precious-metals portfolio and are supported by its refinery, assay and trading capabilities. The company is associated with the London Platinum and Palladium Market Good Delivery framework.

• Palladium bullion barsPrecious-metals bullion

  Palladium bars extend MKS PAMP's product range into one of the major platinum-group metals. They are produced and traded for professional and institutional users, with the company's refining and assaying operations supporting physical-market transactions and delivery requirements.

• Precious-metals refiningIndustrial service

  Refining is a central operating capability of the group. At its Castel San Pietro facility, MKS PAMP processes precious metals into forms suitable for fabrication, minting, trading and delivery. Refining is integrated with assaying, quality control and the production of bars accepted in major professional bullion markets.

• Precious-metals tradingFinancial and commercial service1979

  The MKS business originated as a precious-metals trading company and continues to provide market intermediation and treasury-related services. Trading activities are centred in Geneva and supported by international operations, including hubs in New York and Hong Kong. The business serves institutions and other professional participants rather than functioning solely as a consumer bullion retailer.

• Vaulting and storageCustody and logistics

  MKS PAMP provides vaulting, storage and related physical-metal services as part of its integrated precious-metals offering. These capabilities support customers that require custody, handling and logistical management of bullion after refining, fabrication or trading. The available reference material does not specify individual facilities, capacities or pricing.

• Tokenised precious-metals productsDigital precious-metals product2025

  The group has developed activities involving tokenised precious metals and acquired full ownership of Gold Token S.A. in 2025. These activities indicate an extension of physical bullion expertise into digital products or ownership representations linked to precious metals. The available sources do not provide enough detail to describe the specific tokens, technology, jurisdictions or customer terms.

• 2022Carbon-footprint-verified precious-metals products

  International

  MKS PAMP launched a portfolio of products carrying carbon footprints independently verified by the Carbon Trust, linking product marketing with emissions measurement and supply-chain sustainability.

  Outcome. The initiative strengthened the company's sustainability positioning, although the source material does not report sales results or a quantified commercial outcome.

  Source

• 2025Acquire full ownership of Gold Token S.A.M&A

  The group was developing activities connected with tokenised precious metals.

  What changed. MKS PAMP acquired full ownership of Gold Token S.A.

  Aftermath. The acquisition expanded the group's involvement in digital or tokenised precious-metals products; detailed commercial terms are not available in the supplied material.

  Source
• 2022Adopt independently measured sustainability initiativesStrategy

  Precious-metals companies faced increasing pressure to measure emissions and demonstrate responsible production.

  What changed. MKS PAMP obtained approval for science-based emissions-reduction targets and introduced products with Carbon Trust-verified carbon footprints.

  Aftermath. The initiatives supported a sustainability-focused positioning, while supply-chain transparency and environmental issues continued to attract scrutiny.

  Source
• 2021Merge MKS (Switzerland) SA and PAMP SAM&A

  The group's trading and physical precious-metals operations had developed as related but separately incorporated businesses.

  What changed. The two companies merged to form MKS PAMP SA.

  Aftermath. Trading, refining, fabrication and minting were placed within a unified corporate structure.

  Source
• 1981Integrate trading with refining and mintingStrategy

  MKS had established itself as a Geneva precious-metals trader, while PAMP operated a refining and fabrication business in Ticino.

  What changed. MKS acquired a majority stake in PAMP, expanding the business into refining, fabrication and minting.

  Aftermath. The transaction created the integrated operating model that later became associated with MKS PAMP.

  Source

• 2025Questions over gifts to a U.S. officialControversy

  During a meeting preceding a U.S.-Swiss tariff agreement, an MKS PAMP chief executive reportedly presented Donald Trump with an engraved gold bar. Swiss legal experts and parliamentarians questioned whether the gifts could constitute an undue advantage under Swiss criminal law. MKS PAMP said the gifts were intended for the Presidential Library and had been cleared with White House ethics counsel.

  Source
• 2025Allegations concerning artisanal-gold supply chains in Burkina FasoControversy

  An investigation cited in the reference material alleged that subcontractors linked to supply chains feeding gold to MKS PAMP in Burkina Faso were associated with killings, violence and land-grabbing connected to control of artisanal-mining sites. The available material describes allegations and does not establish a final legal finding against MKS PAMP.
• 2022Court dispute over Swiss refinery import transparencyControversy

  The Society for Threatened Peoples sought import information from Swiss refiners, including MKS PAMP, but the Swiss Federal Court upheld protections based on tax and business secrecy. NGOs criticised the ruling as an obstacle to supply-chain transparency.

  Source
• 2015Environmental concerns linked to gold from Liberia's New Liberty MineControversy

  Reference material states that gold from Liberia's New Liberty Mine was sent to MKS PAMP's Swiss refinery in 2015 and 2016. The mine had been associated with pollution incidents involving cyanide and arsenic, and affected communities reported environmental and health impacts. A mediation process involving European development banks followed complaints from affected communities.

  Source

• 2025MKS PAMP acquires full ownership of Gold Token S.A.

  MKS PAMP acquired full ownership of Gold Token S.A. in connection with its activities involving tokenised precious-metals products.

  M&AProduct launch
  Source
• 2022MKS PAMP announces science-based emissions targets and verified lower-carbon products

  The company reported approval of science-based emissions-reduction targets and launched products with carbon footprints independently verified by the Carbon Trust.

  Other
  Source
• 2021MKS PAMP and PAMP SA combine under a single corporate entity

  MKS (Switzerland) SA and PAMP SA merged to create MKS PAMP SA, bringing trading, refining, fabrication and minting activities together.

  M&A
  Source

1. MKS PAMP
2. MKS PAMP official website