Largest Asian Gold Refinery To Open

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vhf

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Largest Asian Gold Refinery To Open

posted on Oct 23, 2010 07:12PM

This major gold refinery would only be planned if gold demand was expected to rise sharply.

Regards - VHF

MMTC to open Asia’s largest gold refinery soon

October 23, 2010

NEW DELHI (Commodity Online) : India’s MMTC said Asia’s largest gold refinery built with JV partner PAMP of Switzerland in Haryana is likely to go on stream by this fiscal.

Accordion to MMTC CMD H S Mann, MMTC-PAMP gold and silver refinery at Manesar in Gurgaon will be commissioned in next five to six months.

The refinery built with a cost of Rs 200 crore will refine 200 tones of gold, 600 tones of silver and 2.75 millions units of medallions is the world's second largest such refinery after South Africa’s' Rand Refiner.

The JV refinery was earlier scheduled to start operations in September but was reportedly delayed on technical grounds. MMTC holds 72 per cent in the joint venture.

India is the world's top consumer of the metal and MMTC is one of biggest gold importers.

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