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Metalor Technologies opens refining plant in Tuas

Singapore's plans of becoming a gold and precious metals hub took a key step forward on Thursday. Swiss refiner Metalor Technologies officially opened its refining plant in Tuas.

SINGAPORE: Singapore's plans of becoming a gold and precious metals hub took a key step forward on Thursday.

Swiss refiner Metalor Technologies officially opened its refining plant in Tuas.

The facility offers a complete range of refining services, from evaluation of scrap to bullion production, and is estimated to have a production capacity of up to 150 tonnes a year.

Speaking at the event, Senior Minister of State for Trade and Industry Lee Yi Shyan said the gold industry is expected to create US$0.5 billion in value-added, and generate 1,000 good professional, managerial, executive and technical (PMET) jobs in Singapore by 2020.

Hubert Angleys, CEO of Metalor Technologies, said: "We want to grow with the Asian market; that is the reason we wanted to be there. We are located in the middle of the two largest gold consumer markets, China and India.

“We want to take advantage of this geographic location and certainly we are looking forward to getting metal from these two countries but also exporting, through our Singapore customers, metal to these two countries." 

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