Emirates Gold DMCC, the UAE's pioneer in precious metals refining, announced on Friday (September 15) that Rockfire Resources, the gold, base metal and critical mineral exploration company, is in the process of acquiring its entire refining and minting franchise.
Rockfire Resources is executing a conditional share purchase agreement with Paloma Precious DMCC for the acquisition. The acquisition and the ensuing integration are expected to cover all aspects related to Emirates Gold’s operations, ranging from sourcing, refining, minting, product distribution and market presence.
In parallel with this acquisition, Emirates Gold is poised to undergo a comprehensive refresh of its strategic direction, with a deep commitment to leveraging pioneering technologies in minting, silver electro refining, establishing a global reach for products, diversifying product lines and adhering to the highest industry compliance standards, said a statement.
Also, Emirates Gold has introduced a key management change, prominently featuring the appointment of Daniele Provenzale as CEO. With an impressive track record spanning over three decades, Daniele brings a wealth of experience and expertise to steer the company toward its ambitious goals.
Speaking on the acquisition, Provenzale said: "Our vision is to elevate Emirates Gold to a symbol of trust and integrity within the global precious metals refining and minting industry. A major step in this strategy has been to integrate with a company listed on the globally-respected London Stock Exchange, providing a high degree of governance and reliability.
"The acquisition by Rockfire represents a strategic milestone for us, underscoring our dedication to reshaping the landscape of the precious metals sector. We are resolute in seizing fresh opportunities and guiding the industry toward an era marked by innovation and sustainability.", he added. – TradeArabia News Service