Two New Gold Refiners to Start Dubai Operations
January 16, 05
The number of gold refineries operating from the Dubai Metals and Commodities Centre (DMCC) will double to four during the second half of this year when Al Gaith and ARY Aurum start operating later this year.
The two companies will be joining Al Ghurair Giga Gold (GGG) and Emirates Gold. The DMCC was unable to say what the production levels would be for the two new firms or when exactly they would start operations.
Al Ghurair Giga Gold (GGG), the first company to start operations from the DMCC, began operating last June and is expecting to produce 130 tons of gold and 35 tons of silver this year, according to a DMCC official.
The second refinery, Emirates Gold, is expecting to produce 150 tons of gold this year, a figure which is forecast to rise to 300 tons annually in the future, the DMCC official said.