Dubai headquartered Kaloti Precious Metals (Kaloti), one of the world’s largest gold and precious metals refiners and trading houses, has officially opened the Kaloti Suriname Mint House at a ceremony held in the South American country of Suriname.
The recently operational gold refinery, a first of its kind in Suriname, is part of a joint venture between Kaloti, the Government of Suriname and local gold traders. It is expected to eventually produce as much as 60 tons of refined gold when it is running at full operational capacity.
The Kaloti Suriname Mint House will help to promote and enhance the production of gold within Suriname and the wider Latin American region. It will also increase the supply of gold to Dubai, and specifically to Kaloti’s new US$ 60 million gold refinery, which is currently being built in the Emirate.
Commenting on the new facility in Suriname, Munir Kaloti, Chairman of Kaloti Precious Metals, said:
“The Kaloti Suriname Mint House will help to promote and grow Suriname as a competitive bullion trading hub and centre of excellence for the precious metals industry. It will offer a wide variety of services to the Caribbean region and the wider South American continent. We look forward to working closely with the Suriname government and local industry more generally, as they push forward with efforts to regulate, monitor, and modernise the country’s important gold and precious metals sector.
“This joint venture strengthens Kaloti’s position as a global provider of value added services within the precious metals industry, and it builds on our existing capabilities gained from over 25 years operating within emerging markets.”
The new refinery in Suriname will provide a number of key services and solutions including: melting, assaying, evaluation, vaulting, bullion trading, coins, medallions and investment bars distribution, global logistics, and liability coverage and insurance for the international transportation of precious metals.
The opening ceremony, which was held at the Kaloti Suriname Mint House, was attended by approximately 300 dignitaries, including Suriname’s Vice President, Robert Ameerali, a large number of Ministers, the Governor of the Central Bank, and other senior government officials.
Also present was the Ambassador of China, the Ambassador of France, Chairman of the Chamber of Commerce, Head of the National Assembly, CEO of the Suriname Business Association, and various representatives from the main banks and insurance providers.