Dubai: Emirates Gold DMCC has announced that Rockfire Resources, a UK-based exploration company specializing in gold, base metals, and critical minerals, is set to acquire the entire refining and minting franchise of Paloma Precious DMCC through a conditional share purchase agreement.
“This acquisition will encompass all aspects of Emirates Gold’s operations, including sourcing, refining, minting, product distribution, and market presence,” the company said in a statement on Friday.
Simultaneously, Emirates Gold is planning a comprehensive strategic overhaul, focusing on incorporating advanced technologies in minting and silver electro refining, expanding global product reach, diversifying product lines, and adhering to stringent industry compliance standards.
Emirates Gold has also appointed Daniele Provenzale as CEO.
“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,” said Provenzale. “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.”