MMTC-Swiss co JV to now mint UK ‘sovereign’ coins
19 Feb 2013 7:01 AM IST
MMTC-PAMP, a subsidiary of MMTC, on Monday said it will mint commemorative gold coins on behalf of UK's Royal Mint and will sell them in India.
'Under the agreement MMTC-PAMP will manufacture and market iconic 'Sovereign' coins of the British firm in India,' MMTC-PAMP Chairman Mehdi Barkhodar said here.
MMTC-PAMP is a joint venture between Switzerland's PAMP SA and state-owned bullion trading firm MMTC Ltd.
This is the first time that the Royal Mint has allowed its expertise to be used for manufacturing of commemorative coins outside Britain.
The gold coins, called Sovereign, will be available for sale to customers in India, initially at select jewellery outlets in Delhi, and subsequently pan-India through MMTC-PAMP distribution network and selected bank branches.
'This partnership with MMTC-PAMP will introduce genuine commemorative Sovereigns back into the Indian market, satisfying significant demand for the coin and allow the Royal Mint to develop a new revenue stream,' Royal Mint Chief Executive Adam Lawrence said.
'Under the agreement MMTC-PAMP will manufacture and market iconic 'Sovereign' coins of the British firm in India,' MMTC-PAMP Chairman Mehdi Barkhodar said here.
MMTC-PAMP is a joint venture between Switzerland's PAMP SA and state-owned bullion trading firm MMTC Ltd.
This is the first time that the Royal Mint has allowed its expertise to be used for manufacturing of commemorative coins outside Britain.
The gold coins, called Sovereign, will be available for sale to customers in India, initially at select jewellery outlets in Delhi, and subsequently pan-India through MMTC-PAMP distribution network and selected bank branches.
'This partnership with MMTC-PAMP will introduce genuine commemorative Sovereigns back into the Indian market, satisfying significant demand for the coin and allow the Royal Mint to develop a new revenue stream,' Royal Mint Chief Executive Adam Lawrence said.
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