Page 24 - Bullion World Volume 5 Issue 05 May 2025

Bullion World | Volume 5 | Issue 05 | May 2025

Differences in Global Mindsets:
Mr Tarek Shakarchi observed that in the West, consumer-driven demand
for recycled metals has existed for years. By contrast, in Asia—including
India—recycling is often market-driven rather than consumer-led, with
fewer consumers willing to pay a premium.

Policy and Regulatory Watchpoints:
Tarek urged Indian stakeholders to monitor European regulatory
developments. If silver is officially designated as a "critical mineral,"
it could attract new compliance mandates and support prograMs
Traceability and ethical sourcing are expected to become core
requirements.

Mr Tarek Shakarchi
MKS PAMP Group
Consumer Awareness and RJC Initiatives: Opportunities for the Industry:
Mr Kinjal Shah explained how RJC is promoting Mr Tarek Shakarchi emphasized that refiners should
transparency and trust, especially among Gen Z invest in traceable, ethical supply chains to gain
consumers. Certification of recycled silver enhances a competitive edge. Although refining technology
credibility and builds stronger connections with the remains consistent, transparency and sustainability will
new generation of ethical buyers. become the key differentiators.

Traceability in Indian Context: Closing Remarks:
Both speakers agreed that while Indian consumers Both panellists called for early industry adaptation
may not currently demand traceability, it is vital for and greater collaboration to promote recycled silver.
accessing global markets. Traceability supports Embracing this shift will not only align India with global
circular economy goals and ensures that refiners trends but also create long-term value and credibility.
benefit from value-added exports.

Special Address

The Silver Deficit – Why the Gap Can’t Be Filled

Scale and costs can't be solved

Mr Phillips Baker delivered a compelling special

address on the long-term structural deficit in the
global silver market. With over 40 years of industry
experience, Mr Baker provided a macroeconomic

overview of silver demand, production constraints,
and future implications.

Mr Phillips Baker
San Cristobal Mining

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