MALABAR GOLD & DIAMONDS PROCURES 100% TRACEABLE ‘RANDPURE’ GOLD FROM RAND REFINERY, SOUTH AFRICA; REAFFIRMS ITS COMMITMENT TO ETHICAL SOURCING
18th December 2023
Malabar Gold & Diamonds, a leading jewellery retailer, partners with Rand Refinery, one of the world’s foremost gold and silver refiners, to source 100% traceable ‘RandPure’ gold. Malabar Gold & Diamonds, MD – International Operations, Mr. Shamlal Ahamed, received the first shipment of 100% traceable and ethically sourced, ‘RandPure’ gold from Mr. Praveen Baijnath (CEO – Rand Refinery), in the presence of Mr. Dean Subramanian (CFO – Rand Refinery) and other senior officials from Malabar Gold & Diamonds.
Accredited by the London Bullion Market Association (LBMA), Rand Refinery holds the unique status of being the sole referee status refiner in the southern hemisphere. They have played a pivotal role in establishing industry standards through their dedication to producing 100% traceable and certified ‘RandPure’ Gold. RandPure Gold, sourced entirely through ethical means, boasts fully traceable origins. Exclusively procured from Rand Refinery’s Securities Exchange-listed mines, the raw materials undergo processing in a dedicated production line. Each batch of RandPure Gold bears a distinctive ‘RandPure’ mark and a ‘Certificate of Assurance,’ offering customers essential details about the raw material, including its country of origin, mining period, conflict-free nature, and more.
“Sustainability and responsible business practices have formed the core of our operations at Malabar Gold & Diamonds. Through our association with Rand Refinery and procurement of RandPure gold, we are reaffirming our commitment to responsible and ethical sourcing by opting for gold that meets the strictest industry norms, commented Malabar Group Chairman, M.P Ahammed.
With over 335 stores across 12 countries, Malabar Gold & Diamonds continues to be the 6th largest jeweller globally. ESG (Environmental, Social & Governance) initiative has been the primary commitment of Malabar Group since its inception in 1993, with 5% of net profits set aside towards such initiatives in each country of operations.
About Malabar Gold & Diamonds:
Malabar Gold & Diamonds was established in 1993 and is the flagship company of Malabar Group, a leading diversified Indian business conglomerate. With an annual turnover of $5.2 billion, the company currently ranks as the 6th largest jewellery retailer globally and today has a strong retail network of 335 outlets spread across 13 countries in addition to multiple offices, design centers, wholesale units, and factories spread across India, Middle East, Far East, the USA, the UK, Canada & Australia. The group, owned by more than 4,000 shareholders, has more than 21,000 professionals from over 26 countries working towards its continued success. Malabar Gold & Diamonds also features an online store www.malabargoldanddiamonds.com providing customers the opportunity to purchase their favorite jewelry at any time and on any day from the comfort of their homes.
The group also operates MGD – Lifestyle Jewellery, a retail concept offering trendy and lightweight jewellery that represents the independent and the modern woman through its designs and collections.
ESG (Environmental, Social & Governance) has been the primary commitment of the group since its inception. The key ESG focus areas of Malabar Group are Health, Housing, Hunger Free World, Education, Environment and Women empowerment. Integrating the principles of responsibility and sustainability into its core business, Malabar Group periodically strengthens its ESG goals to remain a socially conscious and responsible organization. The group contributes 5% of its profit to such initiatives in the same country of operation.
