Indian Gold Book:Indian Gold Book - Gold Bars Worldwide

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GOLD REFINERS
The refining of old gold jewellery and other scrap relies on two large refiners, 7 known organised
refiners and more than 10,000 small refiners in cities, towns and some villages.
Refiners are grouped under 3 broad categories:
• Large refiners. India Government Mint, Mumbai. Shirpur Gold Refinery Ltd.
• Organised refiners. Capacity to refine 5 or more tonnes annually.
• Small refiners. Most refine less than 1 kg per day.
LARGE REFINERS
India Government Mint, Mumbai
Formally established in 1829, the Mint has refined gold since 1919. It falls under the administrative control of the Ministry
of Finance. In recent years, it has focused on the refining of old gold scrap and the manufacture of small bars associated
with the 5 year Gold Bond (1993 - 1998) and the on-going Gold Deposit Scheme, launched in 1999. The Mint produces
400 oz, 1000 g, 500 g, 100 g and 50 g cast bars, as well as a 10 g minted bar. It also mints tailormade products. Apart
from gold refining, the Mint produces Indian currency coins.
Shirpur Gold Refinery Ltd
Established in 1999 as India’s first large modern gold refinery, it is located on a 52-acre site in Shirpur (Maharashtra), about
400 km north east of Mumbai. Annual gold refining capacity: 217 tonnes. It is permitted by the Ministry of Commerce and
Industry to import gold dore for refining within India. It manufactures 10 tola bars, 5 tola bars and kilobars at 999.9
purity. Within Maharashtra, the company has “Pioneer Unit” status affording some tax exemption benefits. It has its own
aircrafts and a landing strip at the Shirpur refinery to facilitate precious metal transportation. The company, until 2002, was
previously known as Agee Gold Refiners Ltd. Headquarters: Mumbai. Employees: 120.
ORGANISED REFINERS
There are at least 7 other significant refiners with a capacity to refine 5 tonnes or more annually.
Several are substantial companies. Most are involved in jewellery fabrication, jewellery retailing, bullion dealing or other
businesses.
City Gold refiner Approximate
refining date
WEST
Mumbai India Government Mint 1919
Mumbai National India Bullion Refinery Unit No 1 1964
Mumbai National Refining Private Ltd 1942
Mumbai Narrondass Manordass 1788
Mumbai Parekh Platinum Ltd * 1993
Shirpur Shirpur Gold Refinery Ltd 1999
Ahmedabad Gujarat Gold Centre 1991
SOUTH
Bangalore Bangalore Refinery (P) Ltd 1976
Cochin Chemmanur Gold Refinery Pvt Ltd 1995
* Parekh Platinum is planning to establish a large refinery in Ahmedabad.
Apart from refining and the manufacture of coins and small bars, some also produce an extensive range of industrial gold
products. For example, gold anodes for industrial plating, gold alloys in various colours, fine gold wire, gold powders and
pastes, and gold chemicals.
AN INTRODUCTION TO THE INDIAN GOLD MARKET