New Delhi: Gold and silver refining and manufacturing firm MMTC-PAMP India has been included in the ‘Good Delivery List' of the London Bullion Market Association (LBMA).
The list includes those companies with gold and silver bars that comply with the required standards for acceptability in the London bullion market.
“The LBMA has accredited MMTC-PAMP India Pvt Ltd as a ‘Good Delivery Gold Refiner',” state-run trading firm MMTC said in a statement.
MMTC-PAMP India is a joint venture between MMTC and Swiss firm PAMP SA.
“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,” it said.
The good delivery rules for gold and silver bars include specific requirements for the fineness, weight, dimensions, appearance, marks and production of bars. It also specifies procedures for weighing, packing and delivery.
MMTC-PAMP India is engaged in gold and silver refining and manufacturing of gold and silver medallions. The company was founded in 2008.
The LBMA is an international trade association that represents the wholesale over-the-counter market for gold and silver. It undertakes many activities for its members and that include setting of gold delivery and refining standards.