Precious Metals

First precious metals assay training site opens in India

A precious metals assay training institute has opened in Mumbai, India, to educate and certify the next generation of specialists who attest to the specifications of precious metals in bullion, coin and jewelry products.

Images courtesy of India Mart.

India’s first precious metals assay and training institute has opened under a joint agreement between the World Gold Council and MMTC-PAMP India Pvt. Ltd.

India’s first and only assay training institute is located at the Indian Institute of Gems and Jewellery (IIGJ) in Mumbai. The purpose of the institute is to train the next generation of skilled assayers for bullion and jewlery products.

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Arjun Raychaudhuri, managing director of MMTC-PAMP, says, “Making world class products in a world class way is our core philosophy at MMTC-PAMP. India is witnessing significant innovation in how consumers engage with gold. It is imperative that customers receive the highest purity and complete traceability of the metal. We are committed as an institution to build infrastructure that allows every customer assurance of both quality and source of the metal. The Precious Metals Assay Institute is a step in this direction and is supported by all major industry bodies.”

According to the joint announcement by the World Gold Council and MMTC-PAMP, “A qualified assayer is a person who is proficiently trained in verifying the purity of gold in ornaments, coins and bars and must adhere to high standards of professional conduct. The process of assaying is vigorous, highly technical, and needs ample knowledge. This is one of the most sought-after skills in the gold industry. At present, the industry norm is to ‘learn on the job’ within an unorganised market. This means that most assayers are trained in a non-standardised manner, which is a matter of great concern for the industry. As a result, the leading industry bodies have come together to form the not-for-profit Institute, which will bring one of the most important capabilities to the Indian gold industry.”

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