Page 24 - Bullion World Volume 02 Issue 08 August 2022

Bullion World | Volume 2 | Issue 08 | August 2022

use of correct PPE, and health examination of working Mr Arjun Raghavendra M,
personnel, besides upgrading the capabilities of the Advocate, IGPC- IIMA on the
refinery to comply with norms. export of gold/silver bullion from
http://goldconference.in/presentation/Day1/ India: As per Schedule 2- Export
Debasish_Bhattacharjee.pdf Policy – ITC(HS) 2018 Chapter
71, which is pertaining to gold and
Mr Rakesh Kumar Bhan, silver and based on Export Policy
MD, Fischer Measurement & Policy Condition there is no
Technologies (India) Pvt Ltd., restriction on the export of gold or silver bullion from
presented on benefits of EDXRF India. Also, there is no mention of any value-addition
as a preferred technology to norms. So, when conditions are favourable, Indian
measure precious metals content refiners may explore the exportation of bullion. Now
in alloys. He also elaborated that IIBX has become operational, it can provide a new
the effect of various parameters opportunity for Indian refiners.
such as resolution of the detector, pulse processor, http://goldconference.in/presentation/Day1/Arjun_
collimator, measuring distance, measuring time, and Raghavendra.pdf
calibration on the accuracy and reproducibility of the
results.
http://goldconference.in/presentation/Day1/ Mr Suresh Kumar Banga, Vice
Rakesh_Kumar_Bhan.pdf President, Bright Metal Refiners
on Opportunities to grow Indian
refining sector: Nominated
Ms Kristina Kern, Project
Manager, Technology banks are permitted to support
refiners in sourcing gold dore. The
Development, Krastsvetmet,
government (or RBI) should make
along with her colleague Mr
Stanislav Turevich delivered necessary regulatory changes
to enable nominated banks to source dore for the
a presentation on “Recent
refiners. Second, the duty differential between dore
advances in gold dore refining”.
bar and standard bullion should be increased from the
She outlined the need for present level to make refining operations viable. Third,
different methods of refining based on silver and PGM
refiners are permitted to import a certain portion of
contents. The use of an additional precipitator in dore
their licensed quantity dore as ‘duty-free’ (against a
containing PGMs leads to increased recovery of gold. bank guarantee) to be refined and given to jewellery
Krastsvetmet has also developed a new dissolution manufacturer-cum-exporters for manufacturing and
method for refining 20% + silver dore. She concluded export of jewellery.
by saying that her company is open to technology http://goldconference.in/presentation/Day1/
know-how transfer. Suresh_Banga.pdf
http://goldconference.in/presentation/Day1/
Kristina_Kern.pdf Mr Manish Goel, Head-Bullion,
ICICI Bank Ltd on Reviving
Discussion- Gold Refining: Addressing Challenges GMS: Removing tenure restriction,
and Unleashing Opportunities providing tax benefits for deposits

greater than one year, removing
Moderator: Mr Karthik C, ‘fear of taxman’, and focus on
Surabhi Bullion investment gold rather than
jewellery can create interest
Panellists: in the potential investor. Likewise, making gold
Mr Arjun Raghavendra M, collected under STGD eligible for CRR, loans against
Advocate, IGPC- IIMA GMS deposits, joint promotions and digitization can
Mr Suresh Kumar Banga, incentivise banks.
Vice President, Bright Metal Refiners http://goldconference.in/presentation/Day1/
Mr Manish Goel, Head-Bullion, ICICI Bank Ltd Manish_Goel.pdf

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