What Nadir Metal Rafineri does

Nadir Metal Rafineri Tic. A.Ş. is a Turkey-headquartered, family-controlled precious metals refinery founded in 1967 by Nadir Tütüncü and now led by Chairman Abdullah Tütüncü. The company operates an industrial-scale refinery in Istanbul processing approximately 125 tons of gold and 250 tons of silver per year, producing Good Delivery bars, cast and minted gram bars (0.5g to 1000g), silver granules, chemical salts (potassium gold cyanide, potassium silver cyanide, silver nitrate), and rhodium metal. It is the first and only Turkish company holding LBMA Good Delivery accreditation for both gold (2011) and silver (2012), is a COMEX Approved Brand for Gold and Silver Futures, and is an international member of the Shanghai Gold Exchange, giving it direct delivery access into the world's major institutional bullion markets.

The company serves four primary customer segments: investment-focused individual buyers served via the NadirGold.com e-commerce platform and bank-branch gold collection days; jewelry manufacturers and industrial users purchasing refined metals, granules, and the Nadir Plating line of rhodium and gold plating solutions; financial institutions and commodity exchanges requiring internationally accredited bullion; and industrial waste generators seeking licensed precious metal recovery. Beyond refining, it offers laboratory assaying, hazardous and non-hazardous industrial waste recovery, and chemical salt recycling.

Nadir Metal's revenue mechanics span three primary streams: spread-based precious metals trading across wholesale and retail channels; refining and laboratory services priced on metal content and processing complexity; and physical product sales of manufactured bars, granules, and branded collectibles (including a 2026 FIFA World Cup licensed collection and an ART COIN limited-edition silver series). The firm also operates a Vicenza, Italy affiliate office for European marketing and distribution, and holds ISO 9001, ISO 14001, and ISO 27001 certifications, along with 17025 laboratory accreditation. Self-funded and unlisted, Nadir Metal is a vertically integrated, accreditation-anchored precious metals platform with a stated strategic objective to grow international revenue to 50% of total business.

Name

Nadir Metal Rafineri

Legal name

Nadir Metal Rafineri Tic. A.Ş.

Website

https://nadirmetal.com.tr

Company type

Private

Founded year

1967

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Nadir Metal Rafineri is a Turkey-headquartered, LBMA- and COMEX-accredited precious metals refinery founded in 1967, producing Good Delivery gold and silver bars, minted gram bars, rhodium, and plating chemicals for jewelers, financial institutions, and retail investors across global markets.

Ownership category

akta.pro rank

Product category

Precious Metals Refining and Manufacturing

NAICS

Secondary Smelting, Refining, and Alloying of Nonferrous Metal (except Copper and Aluminum) (331492), Nonferrous Metal (except Aluminum) Production and Processing (3314)

SIC

Secondary Smelting & Refining Of Nonferrous Metals (3341), Jewelry, Precious Metal (3911), Wholesale-Jewelry, Watches, Precious Stones & Metals (5094)

akta.pro primary industry

Precious Metals Minting & Bullion Products (IMAKAEAJ)

akta.pro secondary industries

Precious Metals Smelting & Refining (IMAKAEAE), Precious Metals Bullion & Concentrates Trading (Gold, Silver, PGM) (IMAKAJAD)

Keywords

• Precious metals refining
• Gold bar manufacturing
• Silver bar production
• Precious metals recycling
• Rhodium plating solutions

Headquarters

HQ city

Istanbul

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Precious Metals Trading: Trading of gold, silver, platinum, palladium, rhodium, and related chemical products in both wholesale and retail markets. Revenue generated from the spread between purchase and sale prices.
2. Refining Services: Providing refining services for precious metals, including recovery from industrial waste, jewelry dross, and scrap materials. Charges based on metal content and processing requirements.
3. Product Sales: Sale of manufactured products including Good Delivery bars, cast bars, minted bars, granules, and specialty collection items. Products sold through direct sales, e-commerce, and distribution partners.
4. Laboratory and Testing Services: Laboratory services for precious metals analysis and testing, supporting both internal quality control and external customers.
5. Gold Banking Services: Bank branch gold collection services where customers can bring gold items for evaluation and sale, with revenue from the spread on purchases.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Nadir Metal Rafineri refines and manufactures precious metals products including LBMA Good Delivery gold and silver bars, cast and minted gram bars (0.5g to 1000g), silver granules, rhodium, chemical salts, and plating solutions for jewelry and industrial customers. It also provides precious metals refining, laboratory testing, and recovery services from industrial waste. The company sells through B2B wholesale channels to jewelry manufacturers, financial institutions, and exchanges globally, and through the NadirGold.com platform and bank-branch gold collection days to individual investors.

Product overview

Nadir Metal Rafineri operates as a precious metals refinery offering a comprehensive portfolio of gold, silver, chemical salts, and rhodium products, along with refining and recovery services. The product line includes Good Delivery large bars, cast bars, and minted gram bars (ranging from 0.5g to 1000g) under the NadirGold brand. Services encompass refining, laboratory testing, precious metal recovery from industrial waste, electroplating solution production/recycling, and chemical salt manufacturing. The company also operates NadirGold.com as its online retail platform and offers Nadir Plating products for the jewelry industry including rhodium and gold plating solutions.

Differentiator

Problem solved

Functional benefit

Brands

• NadirGold: Online retail platform for gold and precious metals products, offering certified small bars and jewelry gold starting from 0.05 grams.
• Nadir Plating
• NadirGold
• NadirGold

Products and services

• Good Delivery Gold Bars (Large Bar) Large-format gold bars produced in approximately 400-ounce sizes meeting LBMA Good Delivery standards for international bullion markets; eligible for delivery against COMEX Gold Futures contracts and for trading on LBMA, SGE, and BIST.
• Cast Gold Bars (Döküm Külçe Altın) Cast gold bars in various weights for investment and industrial use; produced by Nadir Metal Rafineri under certified quality standards.
• Minted Gold Gram Bars (NadirGold) Minted gold bars under the NadirGold brand in denominations of 0.05, 0.10, 0.25, 0.50, 1, 2.5, 5, 10, 20, 50, 100, 250, 500, and 1000 grams for retail investment and gifting.
• Good Delivery Silver Bars (Large Bar) Large-format silver bars meeting Good Delivery standards for international bullion markets; produced by Turkey's first and only LBMA-accredited silver refinery.
• Cast Silver Bars (Döküm Külçe Gümüş) Cast silver bars in various weights for investment and industrial applications.
• Minted Silver Gram Bars Minted silver bars for retail investment and jewelry industry use under the NadirGold brand.
• Silver Granules (Granül Gümüş) Granulated silver products for industrial and jewelry manufacturing applications.
• Chemical Salts (Potassium Gold Cyanide, Potassium Silver Cyanide, Silver Cyanide) Chemical salt products including potassium gold cyanide, potassium silver cyanide, and silver cyanide for electroplating and industrial applications.
• Rhodium Metal (Rh - Rodyum) High-purity rhodium metal for jewelry plating and industrial applications.
• Nadir Plating Products High-purity metallic rhodium and ready-to-use rhodium plating solutions, plus gold plating solutions, aurum, micronized silver powder, silver nitrate, and Pt-Ti products for the jewelry industry; produced from the company's proprietary environmental recovery system.
• Precious Metals Refining Service (Rafinasyon) Refining services for gold, silver, platinum, palladium, and rhodium using advanced industrial-scale technology; offered to industrial clients and jewelry manufacturers.
• Laboratory Testing Services (Laboratuar Hizmetleri) ISO 17025-accredited laboratory services for precious metals analysis and testing, supporting both internal quality control and external customer testing needs.
• Precious Metal Recovery from Industrial Waste Recovery of precious metals from hazardous and non-hazardous industrial waste streams under Ministry permit/license; includes recovery from jewelry dross, scrap materials, and electroplating waste.
• Electroplating Bath Solution Production and Recycling Production and recycling of electroplating bath solutions for the jewelry and industrial sectors, including rhodium plating solutions.
• Chemical Salt Production and Recycling Production and recycling of chemical salts including potassium gold cyanide, potassium silver cyanide, and related compounds used in jewelry plating and industrial applications.
• Bank Branch Gold Collection Service (Banka Şubelerinde Altın Günleri) Gold collection days at partner Turkish bank branches where customers' gold jewelry is evaluated at 24+ carat rates by expert personnel and purchased by Nadir Metal.
• FIFA World Cup 2026 Licensed Gold and Silver Bullion Collection Limited edition officially licensed gold and silver bullion collection themed around the FIFA World Cup 2026 tournament and Turkish national symbols; for retail investors and collectors.
• ART COIN Limited Edition Silver Coins Limited edition 500-piece collection of 2-ounce 999.9 fine silver art coins priced at $250 each, created in collaboration with Turkish artists; all proceeds support Fine Arts Faculty student education.

Quantifiable outcome

• Ranked 47th in Turkey's Top 500 Industrial Enterprises (2025)
• +1 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered minor, historical/core and core.

• ART COIN Collaboration (Seçkin Pirim and Aylin İşcan Yener)minorStrategic or Co-development Partner · 1 January 2025ART COIN project led by Abdullah Tütüncü in collaboration with artist Seçkin Pirim and writer Aylin İşcan Yener. Limited edition 500-piece art coin collection from 999.9 fine silver, with proceeds supporting Fine Arts Faculty student education.
• Degussa (Germany)historical/coreTechnology or Integration · 1 January 1999Technology partnership established in 1999 with German company Degussa for precious metals refining technology and expertise transfer, contributing to the company's industrial-scale development.
• LBMA (London Bullion Market Association)coreOthersAccreditation for gold (2011) and silver (2012) Good Delivery bars. First and only Turkish company with LBMA silver accreditation.
• SBMA (Singapore Bullion Market Association)coreOthersMember of Singapore Bullion Market Association, part of international network of precious metals exchanges.
• SGEI (Shanghai Gold Exchange International Board)coreOthersInternational member of Shanghai Gold Exchange, one of the world's largest gold markets with over 70 members.
• COMEX (Commodity Exchange)coreOthersApproved Brand for delivery against COMEX Gold Futures (GC) and Silver Futures (SI) contracts since July 2020.
• BIST (Borsa Istanbul)coreOthersRegistered with Borsa Istanbul Precious Metals Market.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Metalor Technologies: Metalor is a Swiss-headquartered LBMA-accredited precious metals refiner with industrial and investment product lines spanning bullion, salts, and plating chemicals. Comparable to Nadir across refining, chemical salts, and jewelry industry supply.
• Argor-Heraeus: Argor-Heraeus is a major Swiss LBMA-accredited refiner offering gold, silver, platinum, and palladium refining plus investment bars and industrial products. Highly comparable to Nadir on accreditation, product breadth, and target markets.
• Asahi Refining: Asahi Refining (formerly Johnson Matthey Gold & Silver Refining) is a North America-based LBMA-accredited refiner with global operations. Comparable to Nadir in gold and silver refining capacity, exchange accreditation, and global distribution footprint.
• PAMP Suisse: PAMP Suisse is a leading Swiss LBMA-accredited precious metals refinery producing Good Delivery bars and minted investment products across gold, silver, platinum, and palladium. Directly comparable to Nadir Metal in core refining, bar minting, and global bullion distribution.
• Valcambi: Valcambi is one of the world's largest LBMA-accredited precious metals refineries based in Switzerland, producing Good Delivery bars and a wide range of minted products. Directly competes with Nadir in the institutional and retail bullion market.
• Tanaka Kikinzoku Kogyo: Tanaka is Japan's leading precious metals refiner and an LBMA Good Delivery brand with a strong Asian industrial customer base. Comparable to Nadir as a regional Asian refiner, particularly relevant as Nadir pursues its Shanghai Gold Exchange membership strategy.

Regional players

• Italpreziosi: Italpreziosi is an LBMA-accredited Italian precious metals refinery based in Arezzo, focused on serving the Italian gold and jewelry industry. Comparable to Nadir as a regional European refiner concentrated on jewelry manufacturing supply.

Broad incumbents

• Royal Canadian Mint: The Royal Canadian Mint is a government-owned precious metals refiner producing LBMA-credited gold and silver bars plus collectible coins. Comparable to Nadir in bar production, exchange accreditation, and licensed/thematic collectible products.
• Perth Mint: Perth Mint is a government-backed precious metals refiner and mint producing LBMA-credited gold bars, silver coins, and collectibles. Comparable to Nadir on precious metals minting, bullion production, and licensed collectible product lines.
• Heraeus Precious Metals: Heraeus is one of the world's largest precious metals refiners with extensive industrial and investment product lines. Comparable to Nadir as a broad incumbent in precious metals refining; Degussa (Nadir's technology partner) has historical links to Heraeus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/nadir_metal
• YouTubeyoutube.com/@nadirmetalrafineri9974
• Instagraminstagram.com/nadirmetalrafineri
• LinkedInlinkedin.com/company/nadir-metal-rafineri

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nadir Metal Rafineri