Rand Refinery
Also: Rand Refinery (Pty) Ltd, Rand Gold Refinery
Rand Refinery is the largest integrated gold refinery in the world and the maker of the Krugerrand, the best-known gold bullion coin on the planet.
Rand Refinery (full name: Rand Refinery (Pty) Ltd) was founded in 1920 in Germiston, east of Johannesburg, and remains to this day the largest integrated gold refinery in the world. It processes crude gold from South African mines, refines it to fine gold and strikes both bars and the world-famous Krugerrand coins.
History and significance
For decades South Africa was the world's largest gold producer. Rand Refinery was created as a central smelting and refining works to process the gold of the Witwatersrand basin efficiently. Since 1967 it has struck the Krugerrand - the world's first modern gold bullion coin - in its own minting plant. With its distinctive fineness of 916.7 (22 carat, alloyed with copper), the Krugerrand was for decades the most-traded bullion coin worldwide and remains a benchmark in the investment gold segment.
LBMA Good Delivery
Rand Refinery is listed on the LBMA Good Delivery List for both gold and silver. This internationally recognised accreditation confirms that its bars meet the strict requirements of the London Bullion Market Association: correct dimensions and weights, precisely struck fineness marks and full traceability. Good-delivery bars from Rand Refinery are accepted on exchanges and in OTC trading worldwide. The price page gives an overview of the current gold price.
Product range
| Product | Fineness | Note |
|---|---|---|
| Krugerrand 1 oz | 916.7 (22 carat) | Cu alloy, since 1967 |
| Fine gold bar | min. 999.5 | LBMA Good Delivery |
| Silver bar | 999 | Good Delivery |
| Dore bar (intermediate) | variable | From mine feed |
The authenticity of Krugerrand coins can be checked by weight and diameter - the Coin Weight Checker and the Coin Authenticity Check help here.
Sustainability and responsible sourcing
Since the 2010s Rand Refinery has actively pursued responsible-sourcing programmes. It is a member of the Responsible Minerals Initiative and relies on traceability of gold origin to exclude conflict gold. The Gold Calculator helps to work out the current material value of Krugerrands and bars.
In brief
Rand Refinery is one of the most reputable refineries in the world - its LBMA Good Delivery status and its production of the Krugerrand make its products a liquid and internationally recognised form of physical investment gold. This is not tax or investment advice.