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This precious metals refiner will start silver recycling by April
25 Jan 2026

MMTC-PAMP, a leading precious metals refiner, will start silver recycling at its existing stores on a pilot basis within three months.

The move comes as rising demand threatens to create serious supply-side constraints.

Samit Guha, the company's Managing Director and CEO, said they are entering silver recycling due to improved economics and stagnant global mine production capacity despite rising demand.

Silver recycling: A potential solution to supply constraints
Recycling initiative

Guha warned that if silver demand continues to grow, it could lead to severe supply-side constraints.

He stressed that recycled silver will eventually have to play a bigger role in meeting this demand.

The MMTC-PAMP CEO urged the government to promote silver recycling, highlighting that Indian households hold an estimated 25,000 tons of gold and 10 times that amount in silver.

MMTC-PAMP's plans for silver recycling and expansion
Future plans

MMTC-PAMP currently has 20 gold recycling stores that can be modified to handle silver. The company intends to double its store count in the next five years.

Guha said they would have to upgrade some equipment at these stores and recalibrate it for silver handling.

A pilot project will be launched in a couple of stores before a full rollout, he added.

Silver's investment appeal
Market trends

Guha noted that silver and platinum prices have risen 130-140% globally in the last year, while gold has gained some 75%.

He said investors who missed the gold rally are now looking at silver as an opportunity due to its lower entry point.

"From an investment point of view, silver has become a new gold," he said.