Shining Prospects: MMTC-PAMP's Silver Recycling Pilot Amid Growing Demand

Precious metals refiner MMTC-PAMP plans to start a pilot program for silver recycling within three months, addressing supply-side constraints from rising demand. CEO Samit Guha advocates for government support, noting India's vast silver holdings. The company seeks technological upgrades and expansion in digital commerce and minting operations.

MMTC-PAMP, a leading precious metals refiner, has announced a pilot initiative to commence recycling silver at its existing stores within the next three months. This move aims to alleviate potential supply-side constraints as demand for silver continues to climb, according to CEO Samit Guha.

With the global mine production showing stagnation amid rising demand, Guha emphasized the need for recycled silver to fill the emerging gap. The company plans to adapt its 20 gold-recycling stores to include silver, with a pilot expected to launch in Delhi. Technological investments and equipment upgrades will facilitate this expansion.

Simultaneously, MMTC-PAMP is poised to grow its minting business, particularly in South and Eastern India, and enhance digital commerce capabilities. Guha highlighted silver's robust market performance, noting its potential as a lucrative investment opportunity.

(With inputs from agencies.)