Struggling with dore imports, MMTC Pamp banks on domestic gold scrap
By GCRU Gold News on Friday, March 24 2017, 01:11 - Permalink
Facing much difficulty in import of dore, the term for unrefined gold, India's only refinery with LBMA (London Bullion Market Association) accreditation, MMTC Pamp, has diverted its focus on domestic jewellery scrap collection, to meet its raw material needs.
A joint venture between government-owned MMTC and Switzerland-based Pamp SA, the world’s leading bullion refiner, it has set up 10 scrap collection centres across major cities. These have testing machines and other equipment needed for checking purity of gold content in used jewellery. With these, it has recovered three tonnes of gold through scrap jewellery so far this financial year.