Dubai-based Kaloti Group, one of the world's largest gold and precious metals refiners and trading houses, has teamed up with a South American country to build its first gold smelting plant.
The company says it will invest about US$20 million in a joint venture with local gold traders and the government of Suriname, a tiny nation in north-east South America that has only relatively recently discovered its wealth of gold.
Construction of the precious metals refinery and bullion manufacturing plant, which will be the first in the country, already has started and refining is expected to begin by the middle of 2014.
Production is forecast to reach 60 tonnes of refined gold by the time the smelter is fully operational in 2016.
Read more: http://www.arabianbusiness.com/dubai-company-build-first-south-american-gold-refinery--493335.html
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