THE Rand Refinery take pride in setting themselves apart as a corporation which generates gold that achieves the maximum ethical standards. Due to smuggling activities that occurs on a monthly basis, Zimbabwe loses over US$50 million worth of gold. As the dilemma unfolds we see what is really going on; local producers are taking the precious mineral (gold) to South Africa where they sell it for a bigger an better price.
Rand Refinery is clearly dedicated to manufacturing gold that sees the highest ethical principles and which can be classified as ‘responsible’ and/or ‘conflict-free’. Our certified gold’s entire chain-of-custody is independently audited.
In 1920 the Rand Refinery was founded and today the corporation is the worldwide leading cohesive single site precious metals refining and smelting complex. The Rand Refinery is the only London Bullion Market Association (LBMA) accredited precious metals refiner across Africa. The corporation is measured by the South African Precious Metals Act of 2005 that are subject to the terms and conditions of their various licenses. These licenses are issued by the South African Diamond and Precious Metals Regulator.
Rand Refinery is one of only 5 international LBMA Referees universally, and the only one in the Southern hemisphere. Its shareholders are major mining businesses which are all independently listed on the Johannesburg Stock Exchange as well as on various international bourses.
The firm additionally conforms with The World Gold Council Chain of Custody Standard, Section 1502 of the United States of America’s Dodd-Frank Act, the Organisation for Economic Cooperation and Development (OECD) Guideline on Responsible Sourcing, Guidelines published by the Responsible Jewellery Council (RJC) and Guidelines of the Electronic Industry Citizenship Coalition (EICC).
Rand Refinery’s status is intricately linked with the corporate model and is the source of their license to operate.