Rand Refinery: Africa’s Gold Refining Powerhouse, Trusted by UAE Investors

Rand Refinery, established in 1920, is one of the most respected names in the global precious metals industry. Located in South Africa, it is the world’s largest integrated single-site precious metals refining and smelting complex, having refined over 50,000 tons of gold—nearly a third of all gold ever mined.

Best known for supplying the gold used in the iconic South African Gold Krugerrand, Rand Refinery holds an essential role in shaping the bullion landscape. While it does not mint coins directly, it is the exclusive supplier of gold for Krugerrand bullion coins, working closely with the South African Mint.

For investors in the UAE, Rand Refinery represents a trusted source of high-purity bullion—backed by international credibility, robust quality assurance, and a century of refining excellence.

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History of Rand Refinery: Born from South Africa’s Gold Rush

Founded by the Chamber of Mines of South Africa in 1920, Rand Refinery was created to process gold domestically rather than shipping it to London’s Royal Mint. At the time, South Africa was experiencing a booming gold rush, and a local refinery allowed for greater efficiency and economic independence.

Initially, the refinery processed raw gold ingots into refined bullion with 99.6% purity, which was then delivered to the South African Reserve Bank for international sale. Today, Rand Refinery remains at the heart of South Africa’s precious metals economy, supplying gold for legal tender coins and supporting the country’s jewelry sector through initiatives like the Silver and Gold Mentorship Programme.

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Rand Refinery’s Role in the Krugerrand Legacy

One of Rand Refinery’s most globally recognized contributions is its involvement in the South African Gold Krugerrand. Since the coin’s debut in the 1960s, it has become one of the most widely traded gold bullion coins in the world.

• Rand Refinery supplies the gold
• South African Mint strikes the coins
• Krugerrands are made of 22-karat gold (91.67% gold, 8.33% copper), which gives them their unique warm hue

Available in 1/10 oz, 1/4 oz, 1/2 oz, and 1 oz sizes, the Krugerrand features:

• Obverse: Portrait of Paul Kruger, former president of the South African Republic
• Reverse: The Springbok antelope, a national symbol

For UAE-based investors, the Krugerrand offers liquidity, global recognition, and timeless design—making it a reliable and popular bullion choice.

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Rand Refinery Bullion Products: Gold and Silver Excellence

Gold Bars

Rand Refinery offers a wide range of investment-grade gold bars in sizes from 1 oz to 1 kg, refined to 999.9 fine gold (24-karat). These bars are known for their:

• Springbok emblem enclosed within a two-ring circle
• Clear inscriptions: “Rand Refinery Ltd” and “South Africa”
• Individual serial numbers (for select bars)

Notably, Rand Refinery also produces 400 oz Good Delivery bars, widely used in central bank reserves and institutional trading—some of which are held in the London Gold Market and by the International Monetary Fund (IMF).

Silver Bars

Expanding its reach beyond gold, Rand Refinery also produces minted silver bars in various sizes, tailored for retail and institutional investors seeking to diversify into silver.

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Reputation & Global Accreditation

Rand Refinery is internationally recognized for its integrity, quality, and transparency. It is:

• A full member of the London Bullion Market Association (LBMA)
• A member of the Responsible Jewellery Council (RJC)
• One of only a few Good Delivery Referees appointed by the LBMA
• The only LBMA-accredited refiner in Africa

These accolades affirm Rand Refinery’s global reputation for excellence—earning the trust of governments, financial institutions, and investors across the globe, including in the UAE.