Rand Refinery
Also: Rand Refinery (Pty) Ltd, Rand Gold Refinery
The Rand Refinery is the largest integrated gold refinery in the world and the maker of the Krugerrand, the best-known gold bullion coin on earth.
The 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 raw gold from South African mines, refines it to fine gold and mints from it bars as well as the world-famous Krugerrand coins.
History and significance
South Africa was for decades the world's largest gold producer. The Rand Refinery was created as a central smelting and refining works to process the gold deposits of the Witwatersrand basin efficiently. Since 1967 it has minted the Krugerrand - the first modern gold bullion coin in the world - in its own minting facilities. The Krugerrand, with its characteristic fineness of 916.7 per mille (22 carat, alloyed with copper), was for decades the most traded bullion coin worldwide and remains to this day 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 accreditation confirms that its bars meet the strict requirements of the London Bullion Market Association: correct dimensions and weights, precisely stamped fineness and complete traceability. Good Delivery bars from the Rand Refinery are accepted worldwide on exchanges and in OTC trading. The current gold price is available at a glance on the price page.
Product range
| Product | Fineness | Note |
|---|---|---|
| Krugerrand 1 oz | 916.7 per mille (22 carat) | Cu alloy, since 1967 |
| Fine gold bar | min. 999.5 per mille | LBMA Good Delivery |
| Silver bar | 999 per mille | Good Delivery |
| Doré bar (intermediate product) | variable | From mine supply |
The authenticity of Krugerrand coins can be checked by weight and diameter - the Coin Weight Check and the Coin Authenticity Check help with this.
Sustainability and responsible sourcing
Since the 2010s the Rand Refinery has actively pursued responsible sourcing programmes. It is a member of the Responsible Minerals Initiative and relies on traceability of gold origin in order to exclude conflict gold. The Gold Calculator helps to calculate the current material value of Krugerrands and bars.
In brief
The Rand Refinery is one of the most renowned refineries in the world - its LBMA Good Delivery status and the manufacture of the Krugerrand make its products a liquid and internationally recognised form of physical investment gold. Not tax or investment advice.