1 / 8

Challenges in Dore and Scrap Sourcing - Ways to Resolve

Explore the challenges in dore and scrap sourcing and discover solutions to address them. Understand the importance of responsible gold and using artisanal sourced dore in India. Join our panel discussion to delve into these topics.

lslate
Download Presentation

Challenges in Dore and Scrap Sourcing - Ways to Resolve

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Dore and Scrap Sourcing – Ways to Resolve ChallengesAn Introduction Hitesh Kalia MMTC-PAMP India Private Limited August 12th, 2017

  2. Data raises some interesting questions for our industry Why is dore supply increasing globally but supply to India reducing in share? Why is dore sourcing reducing despite increases in number of refineries? Why is demand for gold high but recycling of gold in decline?

  3. The challenges are well understood by us… Challenges in sourcing Challenges in recycling • Long term contracts anticipating fixed long term shipment plans • Due Diligence on India Operations • Good Delivery Refiners (Responsible Gold) • Dynamic market restrictions • No Conflict gold (Applies to artisanal sourcing) • Lack of transparency in Value Chain • Inverse relation between Transparency and Evasion of Tax • Regularisation of KYC Procedures for Domestic Sourcing

  4. Two globally available solutions exist…. Challenges in Dore sourcing Challenges in scrap recycling Responsible Gold in India Using artisanal sourced dore

  5. What is Responsible Gold? • In 2003, Kimberly Process Certification Scheme to prevent “conflict diamond” • In 2011, OECD - Due Diligence Guidance introduced – becomes de facto international standard to foster global responsible supply chains of minerals and ensuring combat Human Rights Abuse, avoid Conflict Contribution and to comply with AML & CFT • LBMA introduced Responsible Gold Guidance and mandated that refiners producing LBMA good delivery bars must comply with LBMA Responsible Gold Guidance by following a five-step framework • Independent Third party audit to provide transparency and consistency for Responsible Gold Programme • GDL includes 71 LBMA Gold Refiners located in 31 countries with MMTC-PAMP being only Indian Refinery from India Why doesn’t industry use responsible gold?

  6. Process for sourcing from artisanal mines in place exists Why doesn’t industry use responsible gold to facilitate artisanal mining?

  7. Four discussion topics for our panel Challenges in Dore sourcing 1 Challenges in scrap recycling 2 Responsible Gold in India Using artisanal sourced dore 3 4

  8. THANK YOU

More Related