MMTC Pamp

Precious metals refiner MMTC-PAMP plans to start silver recycling at its existing stores on a pilot basis within three months as rising demand threatens to create serious supply-side constraints, the company's top executive said. Managing Director and CEO Samit Guha said the company is entering silver recycling because the economics are now more favourable, while global mine production capacity shows no signs of significant expansion despite growing demand. "If silver demand keeps going the way it is, we could have serious supply-side constraints. Eventually, recycled silver will have to play a bigger role to fill this gap," Guha told PTI in an interview. He called on the government to encourage silver recycling, noting that Indian households hold an estimated 25,000 tonnes of gold and ten times that amount in silver. MMTC-PAMP operates 20 stores for gold recycling that can be adapted to handle silver. The company plans to double its store count over the next five years. "We need

The plant will produce more than 100 million pieces of contacts this financial year, with plans to double output by the end of March 2024, he said

MMTC-PAMP, a JV between state-owned MMTC Ltd and Switzerland-based bullion brand PAMP SA, on Thursday said it is aiming at a revenue of Rs 1,000 crore from the eastern region in the next five years. It forayed into the eastern market, launching the first store in Kolkata. Over the next five years, the company aims at earning a revenue of Rs 1,000 crore in the eastern region, and expand into key regional markets by targeting Jharkhand, Bihar and the northeast, MMTC-PAMP said in a release. With the launch of the Kolkata unit, the company now has 14 stores across the country. We plan to build a strong presence in the eastern market and with this store, we will not only cater to the huge demand of gold recycling in the region, but will also offer our flagship 999.9 purest gold, silver coins and ingots to consumers and trade channels, MMTC- PAMP MD & CEO Vikas Singh said.

MMTC-PAMP is a joint venture between Switzerland-based bullion brand PAMP SA and MMTC Ltd, a Govt of India Undertaking

For a nominal transaction fee, sellers can receive the maximum value of gold as a direct bank transfer or in the form of a gold bar with 9999, 999 and 995 purity, the bullion refiner said

Motilal Oswal Financial Services (MOSL) has introduced 'Me-Gold', a digital form of gold trading for individuals.It has done so in partnership with MMTC-Pamp, the country's only gold refiner which is approved by the London Bullion Market Association. There will be an option for physical delivery. Last year, Paytm, a digital wallet and now a payments bank, had introduced gold coins in partnership with MMTC-Pamp.Me-gold facilitates trading in gold in rupee and grammage denominations, at a price determined by the global markets. Customers can buy and sell gold through a mobile application. "Our 900,000 current clients can instantly start buying quality gold, for future consumption either for their children's wedding or saving to accumulate for larger purchases for gold ornaments or just for saving in the form of gold. The product satisfies all the qualities of physical gold and provides the convenience of e-commerce," said Motilal Oswal, chairman.While customers would trade in the ...

Faced with enormous difficulties in dore (unrefined gold) import, India's only LBMA (London Bullion Markets Association) accredited refinery MMTC Pamp has diverted its focus on domestic jewellery scrap collection to meet its raw material needs.The company - a joint venture between the government owned MMTC and Switzerland - based Pamp SA (the world's leading bullion refiner) - has set up its own 10 scrap collection centres across major cities. These centers have testing machines and other equipment needed for checking purity of gold content in used jewellery, these collection centres have helped MMTP Pamp recover 3 tonnes of gold through scrap jewellery so far this financial year.The move assumes significance as the government's Gold Monetization Scheme (GMS) has so far collected 6.4 tonnes of gold since its launch in November 2015. The government has pushed thousands of branches of banks at work to make GMS successful. But, the scheme is yet to see a success with just around 6 tons ..