Minerals and Metals Trading Corporation (MMTC), a state-owned trading firm, would be investing Rs 1.84 crore in its joint venture (JV) firm ‘MMTC-PAMP India’ for setting up a plant for minting and refining of gold and silver. MMTC would increase its equity investment limit from Rs 15.60 crore to Rs 17.44 crore in the JV. The additional equity infusion would be funded by MMTC through internal accruals/reserves for subscribing/acquiring additional equity shares of MMTC-PAMP India.
In 2007, MMTC had joined hands with PAMP for manufacturing gold and silver medallions in India and setting up a precious metals refinery in Mewat district of Haryana. The project - MMTC-PAMP India has an investment of about Rs 200 crore and annual refining capacity of 100 tonnes of gold and 600 tonnes of silver.
MMTC holds 26% stake in JV while the rest is owned by PAMP. PAMP (Produits Artistiques de Metaux Precieux), based out of Switzerland, is mainly into refining of precious metals.
MMTC is major global player in the minerals trade and is the single largest exporter of minerals from India. With its comprehensive infrastructural expertise to handle minerals, the company provides full logistic support from procurement, quality control to guaranteed timely deliveries of minerals from different ports, through a wide network of regional and port offices in India, as well as international subsidiary.
| Company Name | CMP |
|---|---|
| Redington | 280.90 |
| Amrapali Industries | 42.31 |
| Adani Enterprises | 3037.90 |
| Rashi Peripheral | 752.80 |
| PDS | 338.40 |
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