Page 24 - Bullion World Volume 04 Issue 08 August 2023

Bullion World | Volume 3 | Issue 8 | August 2023
us to enter the precious metal 4. Innovations regarding the
refining business.
3. Brief about the Infrastructure,
technology, capacity and the
target markets.
We have set up our refinery in
the Changodar area, on the
outskirts of Ahmedabad. The
refinery has been set up in an
industrial estate, so we have
good water and electricity
facilities. It also helps in
overcoming one of the most
important challenges, i.e., safety
and security, to a great extent.
We have set up the laboratory
on the refinery premises to get
the test (purity) results before
and after refining as early as
possible. We have used all the
latest equipment both in the
refinery and the laboratory.
We have purchased the refinery
setup and the machinery from
one of India's most trusted and
renowned suppliers. With the
goal of pursuing environmentally
sustainable manufacturing 6. What are the current
practices, we have also installed
an ETP for treating waste water
with high acid content. We are
only using one of the best and
most accurate weighing scales
and XRF to ensure that we
get the perfect fineness of the
bullion bars we manufacture.
We have installed the refinery
with an annual refining capacity
of up to 18 metric tons of gold.
Currently, we are selling the
bullion in a few cities in India,
including Mumbai, Ahmedabad,
Pune, Delhi, etc., however, we
have plans to extend to many
other significant cities, including
Chennai, Hyderabad, Kolkata,
etc Our core customers are
jewellers and retailers.
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product and technology used at
the refinery
At the refinery, we have used all
the semi-automatic machines to
make the working environment
better for our employees and
to make it easy and hassle-free
for them to work. We have also
installed automatic biometric
door locks to ensure the safety
of the employees as well as the
metal in the refining process.
5. How well are you placed to
overcome the challenges
involved.
There are a few challenges
that come up in the form of
government treaties with
other countries. Like in CEPA,
importers can import gold from
the UAE with a benefit of 1%
in import customs duty. So, it
becomes difficult in a situation
like this to carry on with regular
business, but we are thinking of
a way to overcome this.
accreditations and are further
accreditations being pursued?
Currently, we have an NABL-
accredited laboratory within
the refinery premises. And we
are pursuing BIS certification
for our refinery. We aim to
achieve compliance with India
good delivery standards at our
refinery. We also aim to become
an eligible refiner under all
three exchanges, namely the
Bombay Stock Exchange (BSE),
the National Stock Exchange
(NSE), and the Multi Commodity
Exchange (MCX).
7. Does the refinery import dore
or deal with recycled gold?
Currently, being the beginning
of the refinery, we are importing
dore, but we are also aiming
to deal in recycled gold. It is
because the recycled gold
segment has accounted for
approximately 11% of the total
Indian gold supply over the last
five years.