Being a provider of multi-asset exchange and post-trade technology, GMEX has declared today that it will play a major part in the runh of the Mauritius International Derivatives and Commodities Exchange (MINDEX). As claimed in the statement, MINDEX will be a multi-commodities and derivatives exchange platform. MINDEX will have full controll by the Mauritius Financial Services Commission. The project will create a gold refinery, a secure vault, launch an advanced technologically enabled spot exchange, derivatives exchange and clearinghouse.
GMEX has been closely cooperating with the British High Commission Mauritius and Department for International Trade (DIT) Mauritius. The DIT has been an active assistant of the firm from the start of its investment journey and has facilitated meetings with key stakeholders.
As an international economic department, we are pleased to be working with GMEX in Mauritius on an investment which will sustain and create jobs in Mauritius and the UK. The MINDEX project will support an ecosystem which creates opportunities in gold mining, refining, storage, recycling, and in commodities trading and financial technology. We will continue support companies’ overseas investments where there is benefit to the UK by offering practical support to investors, facilitating introductions to ease market entry and using our expertise to explain political sensitivities and cultural differences to British businesses.
Graham Stuart MP,
Minister for Investment, Department for International Trade, UK
The CEO of GMEX Group, Hirander Misra, added to the matter:
Without DIT involvement and support there would have been much less likelihood that the investment would have gone ahead as quickly and smoothly as it has”
CEO, GMEX Group
The exchange platform is proposed to be a boost to the Mauritian economy. The MINDEX project will boost real GDP growth of Mauritius to 4.1% instead of the estimated 3.9%. The commodity exchange is also anticipated to be profitable for the economy of the United Kingdom. An increase in exports and repatriated profits back to the UK is estimated at £100 million. It is also foretell to create an extra 1,000 domestic jobs over a five year period, that in return, will facilitate additional UK GDP growth.