MMTC-PAMP India Awarded the London Bullion Market Association's Good Delivery Gold Accreditation

GENEVA, May 19, 2014 /PRNewswire/ --

We are delighted to announce that the London Bullion Market Association has accredited MMTC-PAMP India Pvt. Ltd, as a Good Delivery Gold Refiner, with effect from 16^th May 2014. MMTC-PAMP India Pvt. Ltd. is a joint venture between PAMP SA Switzerland and MMTC Limited, a Government of India Undertaking.

This certification follows the accreditation of the Company in 2013 by the London Bullion Market Association as a Good Delivery Silver Refiner.

LBMA Good Delivery accreditation has become an internationally accepted quality standard, guaranteeing that bars produced meet the stringent requirements outlined in the "LBMA Good Delivery List". Good Delivery Rules for Gold and Silver Bars include specific requirements for the fineness, weight, dimensions, appearance, marks, and production of bars. It specifies procedures for weighing, packing and delivery.

Coming barely a few weeks after MMTC-PAMP was awarded ISO 9001, ISO 14001 and OHSAS 18001 certifications by QS Zürich AG, a world-renowned certification body, the company has once again demonstrated the high quality of its gold and silver bars.

MMTC-PAMP is honoured to receive this accolade, and become the first ever Indian Good Delivery Refiner for both Gold and Silver.

Please find enclosed the official LBMA press release on the subject, also available online http://www.lbma.org.uk

About MMTC - PAMP INDIA Pvt Ltd:

Incorporated in India on 18th January 2008, MMTC-PAMP India Pvt. Ltd. (MMTC-PAMP India) is a joint venture between PAMP SA, Switzerland and MMTC Limited, a Government of India Undertaking (http://www.pamp.com, http://www.mmtclimited.com, http://www.mmtcpamp.com). Established in 1977, PAMP is one of only three "Approved Good Delivery Referee" for both the London Bullion Market Association (LBMA) and the London Platinum and Palladium Market (LPPM). PAMP's products are accepted as "Good delivery" by The Swiss National Bank; The London Bullion Market Association (LBMA); The New York Commodity Exchange (COMEX); The Tokyo Commodity Exchange (TOCOM); Chicago Board of Trade (CBOT); Dubai Gold and Commodity Exchange (DGCEX) as well as The London Platinum and Palladium Market (LPPM). Incorporated in 1963, MMTC Limited is India's largest public-sector trading organisation, engaged in trading of several products including precious metals. It is India's single largest bullion trader.

In 2008 MMTC joined hands with PAMP for setting up a precious metals refinery and mint in Mewat district of Haryana. With an investment of over Rs 2,200 million and annual refining capacity of 100 tons of gold, 600 tons of silver and minting 2.75 million pieces, India is now home to the world's most modern precious metals refining and manufacturing plant, equipped with state-of-the-art technology throughout all production processes, as well as with the most advanced environmental infrastructure and safeguards that meet the most stringent regulatory standards.

MMTC-PAMP India produces a wide range of products that are on par with or better than products from any foreign manufacturer, thereby providing the consumer in India and beyond with the finest quality products created with complete transparency and assurance. Today, the market has a distinct preference for its product range, the quality of which is fast becoming the de-facto benchmark in the Indian market.

The license for minting the Sovereign for The Royal Mint UK is yet another feather to the cap of MMTC-PAMP India.

Media contacts - India:

MMTC - PAMP INDIA Pvt Ltd
Rajesh Khosla
[email protected]

Media contacts - International:
B4 communication - Geneva, Switzerland
Claude Baumann
+41-22-328-94-00
[email protected]

SOURCE MMTC-PAMP INDIA Pvt Ltd