DUBAI, 9 January 2007 — Dubai Multi Commodities Centre (DMCC) yesterday announced that Emirates Gold, the only silver refinery in the UAE, has been awarded the Dubai Good Delivery (DGD) status, thereby enabling it to achieve international ranking. The inclusion of Emirates Gold into DMCC’s approved list of silver refiners is expected to give silver manufacturing in the UAE a significant boost, as silver traders do not have to turn to international suppliers for their requirements.
The DGD standard was introduced by DMCC in 2005, in a move to promote international standards and increase confidence for the local and regional trade, as well as provide the delivery standard for the Dubai Gold & Commodities Exchange (DGCX).
With this award, Emirates Gold DMCC joins the ranks of 14 other international firms that have obtained a listing on the DMCC-approved list of silver refiners.
“Refining is an important aspect of the precious metals industry and is the first step to establishing a full-fledged manufacturing industry,” said Colin Griffith, executive director of Gold & Precious Metals, DMCC, and chairman, DGCX.
Meanwhile, the Dubai Financial Market (DFM) yesterday announced the listing of Dubai Refreshments Company (DRC), incorporated in Dubai, UAE.
