History of Rand Refinery
Rand Refinery describes itself as the world's largest integrated single-site precious metals refining and smelting complex. It was set up in 1920 by the South African Chamber of Mines. By its own count it has refined close to one third of all the gold ever mined.
Before Rand Refinery existed, gold mined in South Africa was shipped to London for refining. The local refinery started work in 1921 in Germiston, a short distance from Johannesburg. The area was an industrial centre with gold mines nearby, which made it easier to move the metal to the refinery.
Rand Refinery has modernised its plant several times over the decades. Since 1967 it has produced the gold blanks for the famous Krugerrand, which are then struck into coins by the South African Mint. Today the refinery is owned by South African gold mining companies: AngloGold Ashanti, Sibanye-Stillwater, DRDGOLD, Harmony and Gold Fields.
Rand Refinery today
Rand Refinery gold bars carry the RandPure® mark, which stands for guaranteed purity of the metal. Its products are certified, and the refinery is on the LBMA Good Delivery list.
The Krugerrand is made of 22-carat gold (916.7 fineness) alloyed with copper. The copper makes the coin harder wearing and gives it its typical colour.
Gold Krugerrands come in these sizes:
Since 2018 there has also been a 1 oz silver Krugerrand.
Investors value Rand Refinery gold bars for their purity and finish. Bars come in these weights:
Rand Refinery focuses mainly on gold, but its range also includes 999 fine silver bars.
