Lebanor was originally founded in 1997 as GSR, Gold Smelting and Refining, was based in Bourj Hammud area, a suburb of Beirut, and mainly working on refining gold and other precious metals from industrial scrap, jewelry scrap, and non-standard and/or alloy bars...

Innovations in numerous chemical and electro-mechanical techniques, owned GSR success and growth in this field. High precision in refining and assaying had reached international standards. Several workshop locations were opened in Lebanon to better serve the expanding business.