Saturday, December 3, 2022

Tons of gold are processed in this Ticino village

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Liquid gold is poured in the form of bars.

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Sarah FrattaroliDeputy Head of Economics

Mendrisio TI exudes more industrial chic than Ticino dolce vita. Among the German-speaking Swiss, the place, just a few kilometers from the Italian border, is known for the Fox Town outlet temple, a popular destination on rare rainy days during Ticino holidays.

Just a few steps away, hidden behind high concrete walls, protected by barbed wire fences and surveillance cameras, is one of the largest gold refineries in the world: Argor-Heraeus. The gold smelter used to belong to UBS, today it is owned by the German Heraeus Group – with an annual turnover of 30 billion euros, it is a giant in the precious metals business.

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