Recovering precious metals from materials that contain them is an important link in the entire precious metals value chain.
Gold refineries provide products and services that cover the needs of the gold industry. They deal with suppliers of newly mined gold, fabricated gold, other industrial users of gold, and gold traders.
They recycle gold bearing scrap, low purity, and non-accredited gold bars. Some of them produce semi-finished and finished gold products for the jewellery, electronics, decorative and dental industries.
Refined gold has to meet certain standards before it can be used by those industries.
Jewellery manufacturing, investment and industrial applications represent major sources of demand for the precious metals.
It is required that refined metals conform to certain purity and weight standards. As such a successful refinery, should have the appropriate technical and human resources to render the required standard of service.
For a refinery to survive in business, it must have the necessary feedstock to keep it running while being able to meet the costs acceptable by the market.
A considerable amount of scrap jewellery is also generated in the local market.
Waste materials containing silver and gold are also available in the region.
With the prevailing world political and economic conditions, commodities (including precious metals) are gaining more and more interest from different categories of investors around the world. If the current situation continues, the future of the precious metals market will be brighter, and earnings will steadily grow.
We intend to capitalize on the opportunities offered by this market sector, hence we established Auric Hub Gold Refinery, mainly for refining gold and silver.
The gold refining is a high volume/low margin business. A major factor of success in such a business is the availability of continuous supply of feed stock to the refinery.
Being close to the world’s largest gold consumer markets such as India and Saudi Arabia and over 600 gold retailers conducting business in Dubai continuous flow of feed stock for the refinery is guaranteed.
Another factor leading to the success of any refinery is its ability to keep overheads at reasonably acceptable levels.
We have spoken to local as well as regional scrap traders to secure long term supply of feed stock to the refinery.
We intend to build business relationships with African gold mines’ owners and traders to channel some of their gold production through the refinery.
Auric Hub is an established Gold & Silver refinery operating under Abu Dhabi Airport Business Logistics Park Free Zone Authority registered with ADGM with its license number 000004631.
Auric Hub is currently operating from a temporary location at Abu Dhabi Airport Logistics Park – warehouse No. 14A which has a total area of 2,880 sqm.