(PRESS RELEASE) MUMBAI — Malabar Gold & Diamonds, an India-based jewelry retailer, partnered with Rand Refinery, one of the world’s largest gold and silver refiners, to source 100% traceable ‘RandPure’ gold. Malabar Gold & Diamonds MD of International Operations Mr. Shamlal Ahamed received the first shipment of 100% traceable and ethically sourced ‘RandPure’ gold from Mr. Praveen Baijnath (CEO, Rand Refinery), alongside Mr. Dean Subramanian (CFO, Rand Refinery) and other senior officials from Malabar Gold & Diamonds.
Accredited by the London Bullion Market Association (LBMA), Rand Refinery is the sole referee status refiner in the Southern Hemisphere. Their contribution to industry standard is evident through their commitment to producing 100% traceable and certified ‘RandPure’ Gold. RandPure Gold, sourced through ethical means, prides itself on product with fully traceable origins. Exclusively procured from Rand Refinery’s Securities Exchange-listed mines, the raw materials undergo processing in a thorough 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 sixth largest jeweler globally. Environmental, Social & Governance (ESG) initiative has been the primary commitment of Malabar Group since its inception in 1993. 5% of net profits are 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 jewelery retailer globally and today has a strong retail network of 335 outlets, spread across 13 countries with 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 jewelery that represents an independent and modern woman through its designs and collections.
ESG has been the primary commitment of the group since its inception. The Malabar Group’s key ESG focus areas 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.