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Top India Bullion Refiner Forays Into Silver for Industrial Use

  • MMTC-PAMP starts production of silver contacts for switches
  • India’s silver demand seen rising 31% in 2022: Metals Focus

India’s biggest bullion refiner is expanding its business to industrial silver as demand for the metal -- used in everything from switches to television screens --  is set to surge in the South Asian nation.

MMTC-PAMP India Pvt., which has the capacity to refine about 900 tons of gold and silver, has started making silver and alloy contacts -- --used in electrical fuse boxes and switches -- at a factory next to its refinery in the state of Haryana, Managing Director Vikas Singh said. The plant will produce more than 100 million pieces of contacts this financial year, with plans to double output by the end of March 2024, he said.