Rand Refinery
Also: Rand Refinery (Pty) Ltd, Rand Gold Refinery
The Rand Refinery is the world\'s largest integrated gold refinery and manufacturer of the Krugerrand, the world\'s best-known gold investment coin.
The Rand Refinery (full name: Rand Refinery (Pty) Ltd) was founded in 1920 in Germiston, east of Johannesburg, and is to this day considered the world's largest integrated gold refinery. It processes raw gold from South African mines, refines it to fine gold and from it strikes bars as well as the world-famous Krugerrand coins.
History and Significance
South Africa was the world's largest gold producer for decades. The Rand Refinery was established as the central smelting and refining works to process the gold reserves of the Witwatersrand basin efficiently. Since 1967 it has struck the Krugerrand – the world's first modern gold investment coin – in its own minting facilities. The Krugerrand, with its characteristic fineness of 916.7 ‰ (22 karat, alloyed with copper), was for decades the most widely traded bullion coin in the world and remains a benchmark in the investment gold segment.
LBMA Good Delivery
The Rand Refinery is listed on the LBMA Good Delivery List for gold and silver. This internationally recognised certification confirms that its bars meet the stringent requirements of the London Bullion Market Association: correct dimensions and weights, precisely stamped finenesses and complete traceability. Good Delivery bars from the Rand Refinery are accepted worldwide on exchanges and in OTC trading. The current gold price overview is available on the price page.
Product Range
| Product | Fineness | Note |
|---|---|---|
| Krugerrand 1 oz | 916.7 ‰ (22 karat) | Cu alloy, since 1967 |
| Fine gold bars | min. 999.5 ‰ | LBMA Good Delivery |
| Silver bars | 999 ‰ | Good Delivery |
| Doré bars (intermediate product) | variable | From mine supply |
The authenticity of Krugerrand coins can be verified by weight and diameter – the coin weight checker and the coin authenticity check assist with this.
Sustainability and Responsible Sourcing
Since the 2010s, the Rand Refinery has actively pursued responsible mineral sourcing programmes. It is a member of the Responsible Minerals Initiative and focuses on the traceability of gold origin in order to exclude conflict gold. The gold calculator helps calculate the current material value of Krugerrands and bars.
In Brief
The Rand Refinery is one of the world's most reputable refineries – its LBMA Good Delivery status and the production of the Krugerrand make its products a liquid and internationally recognised form of physical investment gold. This is not tax or investment advice.