A Message From The Chairman
A Message From The Chairman
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 and is globally renowned in the industry with, 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 us bars, coins, chemicals, and other value-added products.
The cutting edge for SAM Precious Metals is the strong network that helps connect the gold, silver and precious metals producing countries with the 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 a commodity 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 long term sustainable future and the primary attention is always on the business areas where the company can attain recognized leadership position that will allow Sam Precious Metals to create value for costumers. The primary goal of SAM 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 believe 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 into the development of the industry and the wider community.
SAM Precious Metals is committed to map it’s supply chain in order to identify and assess the risk of the contributing to conflict, Money Laundering, Terrorism Financing, or serious Human Rights abuses, associated with gold and precious metals which they 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 you transform your management practices into measurable action. Certification and Accreditations that SAM Precious Metals has received includes 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 202’1 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 Responsible Jewellery Council (RJC) for Code of Practices (COP) and become an RJC Chain of Custody (COC) Certified Entity. We are the first refinery in the whole of 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 also creates the opportunity to work with government agencies in the mining sector. Over the next ’10 gears, we plan to establish ’13 new refineries, hallmark centers, minting houses for fine gold 8 silver, and value-added products to satisfy growing customer needs.
As a measure of its growth and a part of its expansion initiatives, SAM Precious Metals has reached an agreement with the Dubai Development Authority to procure a new facility for its 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 would allow for further improvements and additional lines of production. We are expected to open up 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.
SAMI ABU AHMAD
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