The London Bullion Market Association has included MMTC-PAMP India Pvt Ltd, the precious metal refinery in India, in its Good Delivery List for gold.
MMTC-PAMP India is a joint venture by PAMP SA Switzerland and MMTC, a Government of India undertaking. It is located in Mewat, Haryana, and has an annual refining capacity of 100 tonnes of gold, 600 tonnes of silver and can mint 2.75 million pieces. Its primary sources of gold feedstock are gold ore originating from mining companies in a number of countries as well as large gold scrap.
The good delivery rules for gold and silver bars include specific requirements for the fineness weight, appearance, dimensions, mark and production bars, an MMTC release said. The London Good Delivery List of Acceptable Refiners of gold and silver is maintained by the LBMA, by whom it is copyrighted It includes 70 gold and 77 silver refiners.