The Hindu Business Line : Rand Refinery first co to get DMCC accreditation

ONE month after the launch of the Dubai Good Delivery Standard by Dubai Metals & Commodities Centre (DMCC), the South Africa-based Rand Refinery Ltd - the world's biggest single-site gold refining complex - has become the first to receive accreditation.

The first consignment of 100 kg of gold bars from Rand Refinery has arrived in Dubai for trade and distribution.

Rand Refinery was the first to applicant for the standard, which will boost trade efforts with the local and regional markets.

Offering strategic access to large consumer markets, DMCC is encouraging international standards for the gold industry, according to a statement from DMCC.

Mr Johan Botha, Head of Global Markets for Rand Refinery Ltd, said that the creation of the Dubai Good Delivery Standard offers a much-needed standard for trade in the region.

"We strongly believe that this certification will strengthen our market positioning and boost our efforts to enter new and competitive markets."

Accreditation from DMCC's Dubai Good Delivery standard requires refineries to maintain strict standards of creditworthiness, financial strength, operational competency and superior production procedures.

The qualifying criteria are designed to ensure acceptable standards of weight, fineness, appearance and marks.

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