MGD procures gold from Rand Refinery, South Africa
Mumbai, Dec 20: Malabar Gold & Diamonds, a leading jewellery retailer, partners with Rand Refinery, one of the world's foremost gold and silver refiners, to source 100% traceable 'RandPure' gold. Malabar Gold & Diamonds, MD - International Operations, Mr. Shamlal Ahamed, received the first shipment of 100% traceable and ethically sourced, ‘RandPure’ gold from Praveen Baijnath (CEO - Rand Refinery), in the presence of Mr. Dean Subramanian (CFO - Rand Refinery) and other senior officials from Malabar Gold & Diamonds.
Accredited by the London Bullion Market Association (LBMA), Rand Refinery holds the unique status of being the sole referee status refiner in the southern hemisphere. They have played a pivotal role in establishing industry standards through their dedication to producing 100% traceable and certified 'RandPure' Gold. RandPure Gold, sourced entirely through ethical means, boasts fully traceable origins. Exclusively procured from Rand Refinery's Securities Exchange-listed mines, the raw materials undergo processing in a dedicated production line. Each batch of RandPure Gold bears a distinctive 'RandPure' mark and a 'Certificate of Assurance,' offering customers essential details about the raw material, including its country of origin, mining period, conflict-free nature, and more.
“Sustainability and responsible business practices have formed the core of our operations at Malabar Gold & Diamonds. Through our association with Rand Refinery and procurement of RandPure gold, we are reaffirming our commitment to responsible and ethical sourcing by opting for gold that meets the strictest industry norms, commented Malabar Group Chairman, MP Ahammed.
With over 335 stores across 12 countries, Malabar Gold & Diamonds continues to be the 6th largest jeweller globally. ESG (Environmental, Social & Governance) initiative has been the primary commitment of Malabar Group since its inception in 1993, with 5% of net profits set aside towards such initiatives in each country of operations.
