Metals and Minerals Trading Corporation (MMTC) has clocked a sales turnover of Rs 68,800 crore in 2010-11,a top company official said. MMTC chief general manager Ashish Majumdar said the the contribution of precious metals division in achieving the turnover was Rs 50,680 crore. He was speaking to reporters on the sidelines of inaugurating a jewellery exhibition organised by the PSU here. Stating that the MMTC is a major gold importer,he said the company handles 245 tonne of gold and 880 tonne of silver which accounts to 25 percent of India's gold imports. "India is a major consumer of gold and imports about 960 tonne of which nearly 35 percent is the total mine production of world. The annual mine production is 2689 tonne," Majumdar said. He said MMTC,Visakhaptnam was initially engaged in exporting various minerals besides import of coal,fertilisers,metals,Palmolive and subsequently diversified into marketing of silver and gold medallions and silver-wares from 1999. MMTC had an in-house medallion manufacturing facility (Mint) In Delhi for manufacturing gold medallions of variouscategories and it also produces silver medallions which will be manufactured in 999 purity and well received by the public,he said.
