Utilisation of gold refineries shrinking due to lack of scrap gold

Less than 400 tonnes of gold are being refined a year, against all-India capacity of 1,700 tonnes

Poor response of the Gold Monetisation Scheme (GMS) has come as a double whammy for organised gold refiners like MMTC-PAMP India and BSE-listed Shirpur Gold Refinery Limited, which are already reeling under huge shortage of gold scrap from both domestic and international sources. In recent times, with global standards being adopted by mine dore exporting nations, availability of standardised gold scrap had been shrinking for refining companies. A dore bar is a semi-pure alloy of gold and silver, usually created at the site of a mine. It is then transported to a refinery for further purification.

"Proper supply of gold scrap