MMTC-PAMP India to refine 78 per cent more gold in 2014-15

MMTC-PAMP India, a gold refiners is looking at 78 per cent growth in gold refining during financial year 2014-15, says a news report.

The company with installed capacity to refine 150 tonnes per annum is planning to increase the gold refining volume to 80 tonnes during 2014-'15. During the FY’14, the company had refined 45 tonnes of gold, adds the report. MMTC is looking at achieving 100 per cent capacity utilization by next fiscal year, by raising the gold refining volume per annum to 150 tonnes.

Further the report adds that the issue of sourcing of raw material has been rapidly changing since the company got international accreditation from the London Bullion Market Association (LMBA). Now, the global miners have begun showing interest to supply gold to the company.

This apart, the company also intends to refine 100 tonnes of silver in FY '15 which is four times more when compared with the quantity of silver refined by MMTC during 2013-'14. The company had refined 25 tonnes of silver during 2013-'14.