MMTC-PAMP Eyes to Expand into Consumer Gold Recycling

MMTC-PAMP is considering a new way to collect old gold from households as it looks to grow its recycling business, as per The Moneycontrol news report.  

Managing Director and CEO Samit Guha said the company is examining whether more gold kept at homes can be brought into the formal recycling market. 

India has an estimated 30,000-35,000 tonnes of gold in households. Of this, only around 240-250 tonnes are recycled each year. A large amount therefore remains outside the organised recycling system. 

Home Collection Model 

The company is looking at the collection model used by gold loan and leasing companies. Under this arrangement, representatives can visit a customer's home, with permission, and collect gold against financing. 

MMTC-PAMP cannot provide loans against gold as it is not an NBFC. Guha said the company is instead studying whether the home collection part of the model can be used for recycling. 

Current Recycling Set-up 

MMTC-PAMP has around 20 recycling centres where individuals and jewellers can bring old gold and silver. The metal is weighed and tested for purity in front of the customer before it is melted. 

The company uses precision weighing and XRF technology to assess purity and value. Customers can sell the gold, with the payment transferred to their bank account, or exchange it for coins and bars. 

Recycled Gold Products 

MMTC-PAMP has launched a 10-gram Virasat coin made from 999.9+ pure recycled gold. Its larger stores also combine old gold recycling or buyback with the sale of minted products. 

The company is testing smaller stores focused on coins and bars. In April 2026, it also launched a silver buyback programme across select cities using its existing gold-recycling infrastructure. 

Impact on Gold Imports 

Guha said a larger recycling business could help reduce India's dependence on imported gold. The company is also looking at household holdings as higher gold prices have increased the value of old jewellery and other gold items. 

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Conclusion 

MMTC-PAMP is currently studying how household collection could be added to its recycling operations. The company has not yet announced details on when the proposed model would begin. 

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