Indian commodity trader MMTC seeks to import gold from South Africa.

By bne IntelliNews January 11, 2011
India's state-run commodity trader MMTC Ltd. has opened an office in South Africa and would like to buy up to 25 tons of gold from the country this year, Business Day newspaper reported citing the company's managing director. MMTC wants to import 200 tons of gold a year and up to 600 tons of silver to feed a joint venture precious metals refinery that will be commissioned by May this year, SP Mann was cited as saying. MMTC has already held talks with Germiston-based Rand Refinery, which processes gold from local producers and elsewhere, the newspaper said quoting an unnamed source.

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