Page 39 - Bollion World Volume 4 Issue 8 August 2024

Bullion World | Volume 4 | Issue 8 | August 2024

Competition from Unorganised Refiners Quality Control & Expertise
The other challenge is from the unorganised refiners in It is also very crucial in gold scrap refining to ensure
India. At present, most of the refining is done by small- production of high-quality gold bars to maintain goodwill
scale refiners, using ancient and traditional practices, in the market. One shall continuously monitor and
who primarily deal with the local jewelers, capturing optimize the refining processes, impart training to
the dominant share of domestic market. Further, the develop skill and expertise in sampling and assaying,
prevalence of cash transactions in the scrap market also regular maintenance of equipment to improve efficiency
affects the steady and consistent supply towards the and maintain quality.
organized and large scale refiners.
It goes without saying that refining business offers
Lack of Awareness and Knowledge immense opportunities for those who are willing to face
The majority of supplies of scrap & old gold comes from challenges, by minutely learning and understanding the
the unorganized sources. Most of the jewelers prefer market dynamics, regulatory compliances, complexity
and are strongly influenced by local refining units which of refining process and commitment towards ethical
are rooted in the market since decades. It is very difficult practices.
for the refiners who are using advanced technologies &
refining processes to get supplies from these customers With the right outlook, we Sovereign Metals Limited,
due to lack of awareness and knowledge among them. aspire to continue serving our partners and customers
One of the major challenge is, which purity testing with veracity and supremacy, living up to our brand
method to rely upon. Most of the domestic suppliers promise of “Refining Today, Defining Tomorrow.”
reckon on widely used XRF techniques as they are
quick and fast in delivering the testing results. On the
other hand, refiners use fire assay as the primary tool
for crediting their customers. Certainly, the test reports
using two different methods will vary up to some extent
and even a small difference will matter. To take these
customers into confidence and build their trust, it is
utmost important to educate and spread awareness
among them regarding such technical aspects.

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