A Message from our chairman
Leading the Future of Precious Metals with Innovation and Responsibility
A Message From The Chairman
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Established and headquartered in Dubai, the City of Gold, SAM Precious Metals is one of the top two gold, silver, and other precious metals refineries in the UAE. Globally renowned in the industry, we boast high-end and advanced facilities in Dubai and Egypt. Our vision is to fill the gaps in the precious metals industry by offering state-of-the-art refining services and related products such as bars, coins, chemicals, and other value-added products.
The cutting edge for SAM Precious Metals is our strong network that helps connect gold, silver, and precious metals-producing countries with consuming countries. In carrying out operations, SAM strictly ensures adherence to ethical and moral standards and follows the process of responsible sourcing.
SAM Precious Metals believes in the value of gold and silver as commodities of the future. In recent years, gold has once again become increasingly attractive as a safe haven asset for individuals and companies worldwide. The future of precious metals is very bright, and if the current geopolitical trend continues, we expect steady growth in the source and consumption of precious metals, especially gold. SAM Precious Metals is focused on a long-term sustainable future, with primary attention always on the business areas where the company can attain a recognized leadership position that will allow us to create value for customers. Our primary goal is to create sustainable value for clients, investors, people, society, and other stakeholders while operating in a culture of responsible sourcing, adhering to regulations, and demonstrating excellence in performance, innovation, governance, trust, and respect. The senior management of SAM strongly believes that growth and sustainability go hand in hand, and it is a priority for the company to consider wider environmental, social, and governance factors and invest in the development of the industry and the wider community.
SAM Precious Metals is committed to mapping its supply chain in order to identify and assess the risk of contributing to conflict, money laundering, terrorism financing, or serious human rights abuses associated with the gold and precious metals we produce, distribute, transport, export, sell, and/or purchase. SAM ensures that any material, whether recycled or minted products, entering the refinery is from responsible and sustainable sources.
Certification is the bridge between standards and impact – they help us transform our management practices into measurable action. Certifications and accreditations that SAM Precious Metals has received include product quality, management system, operations, environmental policy, health and safety policy, and customer satisfaction. SAM Precious Metals has been a UAE Good Delivery member for silver since 2021 and has also become a UAE Good Delivery member for gold in July 2022. We are extremely proud that recently SAM Precious Metals has been recertified by the Responsible Jewellery Council (RJC) for Code of Practices (COP) and has become an RJC Chain of Custody (COC) Certified Entity. We are the first refinery in the whole of the Middle East to become an RJC Chain of Custody (COC) Certified Entity, which we believe demonstrates our efforts and contributions towards responsible sourcing.
Currently, we have two fully operational refineries for gold and silver, one in Dubai and the other in Egypt. SAM Precious Metals Egypt branch is a representation of the first successful joint venture with well-known local gold traders in the region. It is also the first international refinery to venture into the lucrative Egyptian gold refinery industry. In addition, it creates the opportunity to work with government agencies in the mining sector. Over the next 10 years, we plan to establish 13 new refineries, hallmark centers, minting houses for fine gold and silver, and value-added products to satisfy growing customer needs.
As a measure of our growth and a part of our expansion initiatives, SAM Precious Metals has reached an agreement with the Dubai Development Authority to procure a new facility for our refinery in Dubai with an area of about 65,000 square feet. This new facility, along with the current refinery in Dubai measuring about 20,000 square feet, will be approximately triple the original size of both the Dubai and Sharjah branches combined. We expect the new facility will allow for further improvements and additional lines of production. We are expected to open this new facility by the end of 2022, allowing us to embark on a new journey of growth and development.
Providing top-quality products and services is the cornerstone of our mission. We believe it is our duty to increase consumer confidence and faith in responsible precious metals and their value. Our company relies heavily on consumer feedback and sales reports to further develop our products and services. Our motto is “to consider each customer as our business partner.” We aim to become the customer’s first preference by offering premium services that meet international standards and supplying the best quality value-added products.