With a built-up area covering 15,000 sqm in the heart of DMCC, Dubai gold and commodity hub, the new state-of-the-art refinery will cost USD $60 million (AED220 million) and will be the world's largest with a capacity to refining up to 1400 tons of gold and 600 tons of silver per year as well as PGMs and other metals.
DUBAI: Kaloti Jewellery Group, a leading gold and precious metals refiner and a international trading house, has commemorated the start of construction for its new Dubai Good Delivery precious metals refinery with a ground breaking ceremony in Dubai, UAE.
With a built-up area covering 15,000 sqm in the heart of DMCC, Dubai gold and commodity hub, the new state-of-the-art refinery will cost USD $60 million (AED220 million) and will be the world’s largest with a capacity to refining up to 1400 tons of gold and 600 tons of silver per year as well as PGMs and other metals.
In addition, the refinery will produce wholesale investment casted and minted bars as well as jewellery and semi-finished precious metals products. It is anticipated to be completed in the first half of 2015.
Speaking at the ground breaking ceremony on Monday, the chairman Munir Kaloti said: “The construction of our new refinery is part of the company’s overall strategy to expand its capacity up to 2,000 tons. It is an imperative development in the company’s global growth and institutionalization scheme and will form the basis of our expansion for the next generation.”
According to Kaloti, the new refinery will use the most advanced technologies, including the gold and silver electrolysis refining methods, and will feature two laboratories for advanced assaying of gold and silver and other noble metals.
It will also be the first refinery to implement Green Building Standards, stipulated by the Dubai Municipality and EHS with regard to the environment, fire and life safety, security and risk assessment and management, he said.
courtesy of bullionstreet
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