The Gold Refinery of MMTC-PAMP India Pvt. Ltd. (MMTC-PAMP India) of India has been added to the LBMA's Good Delivery List for Gold with effect from 16th May 2014. Simultaneously LBMA has awarded its “Responsible Gold Certificate”, certifying the Company’s compliance with the LBMA Responsible Gold Guidance.
These certifications follow the accreditation of the Company in October 2013 by the London Bullion Market Association as a Good Delivery Silver Refiner.
Coming barely a few weeks after MMTC-PAMP India was awarded ISO 9001, ISO 14001 and OHSAS 18001 certifications by QS Zürich AG, a world-renowned certification body, the company has once again demonstrated the high quality of its gold and silver bars.
MMTC-PAMP India is honoured to receive this accolade, and become the first ever Indian Good Delivery Refiner for Gold and Silver as well as the only Indian Refiner complying with the LBMA Responsible Gold Guidance.
LBMA Good Delivery accreditation has become an internationally accepted quality standard, guaranteeing that bars produced meet the stringent requirements outlined in the “LBMA Good Delivery List”. Good Delivery Rules for Gold and Silver Bars include specific requirements for the fineness, weight, dimensions, appearance, marks, and production of bars. It specifies procedures for weighing, packing and delivery.
MMTC-PAMP has satisfied the LBMA as to its ownership, history, production capability and financial standing. It has also passed the LBMA’s exhaustive testing procedures, under which its gold & silver bars were examined and assayed by independent referees, and its own assaying capabilities were tested. Its supply chain due diligence has undergone independent third-party audit by LBMA accredited auditor prior to certification by LBMA for compliance with the LBMA Responsible Gold Guidance.
MMTC-PAMP India’s Its primary sources of gold & silver feed stock are gold & silver Dore originating from precious metal mining companies located globally, as well as gold & silver scrap. MMTC-PAMP India’s refined gold output is mainly in the form of one kilo bars, hundred gram bars and gold grain; in silver it is mainly in the form of 30 kg bars, one kilo bars and silver grain.
The London Good Delivery List of Acceptable Refiners of gold and silver is maintained by the LBMA, by whom it is copyrighted. It lists those refineries whose gold and silver bars have been found, when originally tested, to meet the required standard for acceptability in the London bullion market. The List now includes 71 gold and 78 silver refiners.