Page 20 - Bullion World Volume 04 Issue 08 August 2023

Bullion World | Volume 3 | Issue 8 | August 2023

technologies to produce outstanding led to a decline in production and
products. constrained profit margins for
refining companies. As a result, the
Sovereign metals continuously industry had to navigate through
endeavour to revamp our equipment, these challenging times and
furnishings and environmental exploring new business strategies to
controls. Sovereign metals is remain competitive.
auspiciously hitting the small
businesses to large corporations in Despite the ups and downs,
the array of industries. Our cordial, the gold Dore refining industry
accomplished and coordinated staff continues to hold a vital position
work with our customers to perceive in India’s economy, contributing
their precise concerns, aspects to employment opportunities and
Mr Viral Lodhiya and outlook to deliver cutting-edge value addition to the precious metal
services which help them meet their sector. Government regulations
business goals. and initiatives aimed at streamlining
the gold import have been
The gold Dore refining industry in instrumental in addressing some of
Sovereign metals have constructed India during the FY 2022-23 has the industry’s concerns. However,
their refinery from safety, health experienced periods of fluctuating a comprehensive approach
and environmental standpoint. performance. The industry witnessed involving all stakeholders, including
The production area is utterly some remarkable successes government bodies, industry players,
standardised with adequate high supported by fall in gold prices, and trade associations, is essential
tech facilities. The people who where refining companies achieved to foster a stable and thriving gold
visit the refinery, experience an robust production and favourable Dore refining sector in India.
uncluttered and secure atmosphere market conditions, resulting in
implanting the assurance that higher revenues and profitability. In conclusion, as the industry moves
everything is being handled Conversely, there have been other forward, it will be essential for all
correctly. phases when the industry faced stakeholders to collaborate and
downturns due to external factors leverage their expertise to address
Sovereign metals is a preeminent such as global economic shifts, challenges and seize opportunities,
refinery having well-structured geopolitical tensions, expectations ultimately strengthening the
manufacturing units which are rigged of duty reductions or changes industry’s position in the domestic as
with progressive machinery and in gold prices. These downturns well as global precious metal market.

Some of the new innovations and initiatives started by Bangalore refinery
are recycling and manufacturing of chemicals of other precious metals like
palladium, platinum and rhodium from pharmaceutical and other refining
companies.

Bangalore Refinery was founded in commitment to excellence.
1977 with the vision of becoming They also offer the best findings of
a leading institution in the precious international standards at reasonable
metals industry in South India. Over rates to jewellers across India. Its
the past 45 years, the company findings are manufactured at the
has grown to achieve a leadership Bangalore factory by experienced
position in the field of refining and trained staff using state-of-the-
and recovery of precious metals, art imported precision machines.
manufacturing precious metal Their specialised segment is said
chemicals, jewellery findings, gold to be refining and recovery of Mr Suresh Dhruv
watches and catalysts, as well as other precious metals. The refining
in the marketing of jewellery, coins business for the year 2022 remained
and bullion. The company is known relatively stable when compared to
for its responsible initiatives and the previous years.

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