Group 244

Production of precious metals

This macro-category covers the production activities of precious metals, from extraction and refining to the manufacture of primary products. If your business involves processing gold, silver, or platinum group metals into unwrought or semi-finished forms, then this CAEN code is the right one.

Included Activities & Applicability

  • Extraction and refining of gold Extraction and refining of silver Production of platinum group metals (platinum
  • palladium
  • rhodium
  • iridium
  • osmium
  • ruthenium) Smelting and casting of precious metals Production of semi-finished precious metal products

Excluded Activities & Restrictions

  • Extraction of non-metallic ores
  • Manufacture of jewellery (classified under CAEN 321)
  • Wholesale and retail trade of precious metals (classified under CAEN 46 or 47)
  • Recycling of metal waste (classified under CAEN 38)
  • Production of coins (classified under CAEN 32)

Detailed Analysis & Commercial Insights

Precious Metals Production Industry in Romania: Opportunities and Challenges

The precious metals production industry occupies a strategic position in Romania's economy, although it is not as developed as in other countries with rich deposits. The activity focuses on the refining and processing of gold, silver, and platinum group metals, with direct connections to the jewellery, electronics and even healthcare sectors. In recent years, volatile precious metal prices have imposed careful financial risk management on entrepreneurs in this niche, while technological demand for palladium and platinum has opened up new opportunities. However, challenges remain significant: high energy costs, compliance with environmental standards and the need for major investments in top equipment represent important entry barriers. In the long term, specialisation in high value-added products, such as alloys for electrical contacts or catalysts, can ensure sustainable competitiveness. Entrepreneurs who manage to combine operational efficiency with process innovation have the chance to turn this traditional activity into a profitable growth engine.