Tag Archives: Kaloti Group of Dubai

Caribbean’s first gold refinery expected to earn billions for Suriname

Caribbean’s first gold refinery expected to earn billions for Suriname

Gold bars

Gold bars

Suriname produces an average of 40 tons of gold a year, but until now it has had no large scale refining capacity.

Suriname, Monday March 18, 2013 – The Government of Suriname has embarked on a joint venture with the Kaloti Group of Dubai to establish the first gold refinery in the Caribbean.

The refinery that is being built near the village of Wit Santi, close to the country’s International Airport, is expected to start operating by next year and produce as much as US$2.77 billion worth of refined gold.

On March 16,  President Desi Bouterse joined Kaloti Chairman Munir Kaloti in expressing high expectations of the facility.  The US$20 million plant should make Suriname into a “centre of excellence for the region’s gold and precious metals industry,” a joint release said.   Continue reading