UAE’s SAM Precious Metals to establish 13 refineries globally amid expansion plans

By Arya M Nair, Official Reporter
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Precious Metal Refinery Plant
Representational Image

SAM Precious Metals, one of the top gold and silver refineries in the UAE and globally renowned in the industry with high-end and state-of-the-art facilities in Dubai and Egypt, is planning to set up around 13 refineries around the globe.

The company is a significant player in UAE and has an excellent vision to expand globally. The day-to-day operations of the organization are overseen by a group of seasoned executives who come from a wide range of backgrounds having more than 300 years of collective professional experience.

It has succeeded in getting the Responsible Jewelry Council (RJC) COP and COC Certification and UAE Good Delivery for Gold and Silver Accreditation. SAM has been certified for the RJC Code of Practices (COP) since May 2019. The COP provides a common standard for ethical, social, human rights and environmental practices.

Mohammad Ayyob
Mohammad Ayyob
GM – SAM Precious Metals

“The primary focus of SAM is not only to establish itself as a key player in the bullion industry, but also to position itself as a market leader in developing value-added products that have applications in jewelry, catalysts, medicine, electronics, automotive, and aerospace industries. Currently, SAM is offering minted bars ranging from 1 gram to 250 grams with different shapes and trademarks. SAM currently has five exclusive trademarks, and will start producing precious chemicals used in the precious metal industry.”

SAM is the first refinery in the whole Middle East to become a Chain of Custody (COC) Certified Entity. Also, it is the first to get the same in Egypt. The RJC’s (RJC) CoC Standard defines the requirements for creating a CoC of precious metals that are responsibly produced, processed, and traded through supply chains, and that are third-party assured at every stage.

The main target of opening 13 refineries worldwide is to link the producing countries with the consuming countries. They have plans to have footprints of SAM Precious Metals across the world and establish the brand as an international brand. The key goal of SAM is to create a brand that offers sustainable value, while operating in a culture of responsible sourcing, and demonstrating excellence in performance, innovation, governance, trust, and respect.

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