The Indian Ocean island nation of Mauritius is projecting the ability to, within five years, annually trade $6.5 billion (in U.S. dollars) worth of gold through MINDEX, the Mauritius International Derivatives and Commodities Exchange.

Plans toward achieving this goal include construction of a facility to store bullion and a refinery to process ore.

Inside Coin World: What causes these unusual errors? Coins struck by dual misaligned dies and coins with adjustment marks are among the subjects of our columns this week, found exclusively in the print and digital editions of Coin World.

MINDEX is already forecasting it will trade 31 tons (997,000 ounces) of gold during calendar year 2019, increasing to 156 tons by 2023, according to Hirandre Misra, chairman of Mauritius’s Financial Services Commission.

MINDEX is supported by a consortium which includes UK-based GMEX Group, where Misra serves as the chief executive officer, and Five Rings Commodities SA, an independent gold trading house in Luxembourg.

The MINDEX project includes a capital investment of $35 million, to build the gold refinery and a secure vault, and launch an advanced technologically enabled spot exchange, derivatives exchange and clearing house.

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