Page 28 - Bullion World Volume 4 Issue 11 November 2024

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Pioneering

SuStainability:

How eSg iS

SHaPing tHe

future of

PreciouS Metal

refining

Mr Ankur Goyal
President Works, MMTC PAMP India Pvt Ltd

In the recent technical seminar held a day before the company has prioritized employee health and safety
India Gold Conference on precious metal refining, Mr through regular medical check-ups, safety training, and
Ankur Goyal, a seasoned expert with over 18 years the provision of personal protective equipment (PPE).
of experience, shared valuable insights into how the In the community, MMTC PAMP has taken proactive
principles of Environmental, Social, and Governance steps to improve living conditions in the underdeveloped
(ESG) are transforming the precious metals industry. region around their refinery. Initiatives include providing
With a particular focus on MMTC PAMP’s initiatives, his clean drinking water to schools and villages, improving
speech highlighted how ESG is becoming a crucial factor education infrastructure, and supporting healthcare and
in the operations of refiners globally, especially in India. nutrition programs.

Starting with the environmental aspect, Mr. Goyal In the governance sphere, MMTC PAMP ensures that
emphasized MMTC PAMP’s commitment to reducing it follows the highest standards of ethical business
its carbon footprint through science-based targets. The practices. As the only LBMA-accredited gold and silver
company has set ambitious goals, such as reducing refinery in India, they have strict guidelines for sourcing
Scope 1 and Scope 2 greenhouse gas emissions by precious metals, ensuring that the gold and silver
47% by 2030, compared to a baseline from 2018-19. they process are responsibly and ethically mined. The
This is being achieved through the installation of solar company also complies with international certifications
panels, which contribute to energy savings, and through like the Responsible Jewellery Council (RJC) and
better management of emissions from their equipment, ISO, covering responsible gold sourcing and refining
such as furnaces and boilers. Another notable initiative processes.
is the reduction of water consumption via recycling
systems that reuse wastewater generated during refining Mr Ankur concluded by emphasizing the importance of
processes. The company is also addressing waste innovation in driving ESG compliance. As sustainability
management through in-house setups that process becomes a priority for businesses worldwide, the
and recycle refinery waste, such as precious metal- precious metals industry must adopt practices
containing sludges and effluents. that reduce environmental impact, improve social
responsibility, and ensure transparent governance.
Moving on to the social aspect, Mr Ankur discussed MMTC PAMP's efforts in this regard not only set a high
how MMTC PAMP is not just focusing on corporate standard for the industry but also serve as a roadmap
social responsibility (CSR) but also on employee welfare for other refiners to follow as they navigate the future of
and community development. Inside the refinery, the responsible refining.

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