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Customer Self-service

Growth Through Partnerships

Our core focus is to add value in the lives of both our staff members and customers. Customer-centricity and our global network are a few of the many reasons why Rand Refinery offers high quality services and efficiency to consistently meet each customer’s unique needs.

Who We Bring Value Change To:

At Rand Refinery, we aim to align with key players to unlock immense value change. We strive to treat our miners and employees with integrity, honesty and provide a safe working environment.  Our price offering to our customers is accurate and fair, and we’re driven to continue creating value change from our local to international regulators and governments.

Applications

The requirements and procedure to initiate an application to trade with Rand Refinery are listed below:

  • Rand Refinery is primarily a gold and silver refinery and while deposits may contain base metals and platinum group metals, these other metals will not be paid for.
  • Rand Refinery acts as an agent only and never takes ownership of any metal. Metal will be refined or smelted and sold or swapped into the bullion market on the customer’s behalf.
  • Rand Refinery only transacts on a principal-to-principal basis and does not transact through intermediaries or third parties.
  • Potential customers need to have relevant permissions and permits before we will consider sourcing gold from them.
  • Rand Refinery will only contemplate refining and smelting transactions with customers from countries which are:
    • not subject to international embargoes or sanctions and not deemed to be the origin of conflict minerals or a corridor for the trans-border movement of such minerals. Please refer to the following:
    • OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict Affected and High Risk Areas (Supplement on Gold)
    • LBMA Responsible Gold and Silver Guidance.
  • Rand Refinery will only transact in terms of a formal signed agreement with the OWNER of the gold. The owner of the gold must be a registered company; an individual cannot register in his/her private capacity.
  • In addition, for scrap customers and refiners we require independent verification of their responsible gold and silver compliance.

Applications

Responsible gold and silver requirements:

  • Independent Audit to confirm the following: Policies, Procedures and Processes must be established to ensure that a Depositor can conform to Responsible Gold and Silver Principles. Typically, this audit will ensure that the Depositor conforms to the “5-Step” process outlined in the OECD due diligence guidance, which forms the basis of the LBMA’s Responsible Gold and Silver Guidance and the Responsible Jewellery Council’s certification process.
  • Chain of Custody Audit – Material deposited at Rand Refinery must be of known provenance. Systems must be established to enable an independent 3rd party to verify all stages of processing in order to provide assurance on the veracity of deposited material.

 If the above criteria, and those listed on our enquire to trade forms are met, and the customer wishes to gain further information with regard to Rand Refinery’s requirements, kindly complete the Pre-KYC form and return to a Sourcing representative.

Rand Refinery welcomes feedback from our clients as part of our constant drive toward improving customer service.

If you have any feedback for us, whether positive or negative, please click on the link below to complete the email form:

Contact Us

Customer Feedback

Procurement

Our suppliers are asked to subscribe to the following Code of Conduct:

Useful Links

Regulators / Permits

Product Web Site - Krugerrand

Associated Companies - Gold Zone

Coin Dealers

South African Gold Mining Houses

International Gold Organisations and Exchanges

Gold-related Sites

Retail Sales Pricing

Retail sales pricing is updated on a daily basis. Please see the current price lists:

This Week's Pricing

Please note that the price lists for each day are only available after the am or pm fix on that specific day. 

Pricing History

Glossary Of Terms

ALLOY – A solid mixture of two or more chemical elements, including at least one metal. In the case of gold, it is mixed with a baser metal or metals to lower the purity, influence the colour or add durability.

ANODE – Generally refers to impure copper cast into a special shape for incorporating into an electrolytic refinery for the final purification process.

ASSAY – The testing of gold or silver to determine its fineness or purity.

ASSAY MARK – The stamp by an assayer on a bar or piece of precious metal to guarantee its fineness.

FAQs

  • Rand Refinery will only transact with a registered company that is in possession of a valid Jewellers’ Permit/Works Recovery license. Rand Refinery does not transact with individuals in their private capacity.
  • Rand Refinery can assist with specific products relevant to the jewellery and dental manufacturing industry, such as granules, plate, wire, solder paste etc.
  • Before new customers can purchase from our retail range of value-added products, a Krugerrand Pre-Application Form is to be completed and returned, with the relevant documents for security screening, to the email address provided on the form.
  • Orders of 50gms and less will be levied with an administration fee of R250.00
  • In regard to gold bullion bars, Rand Refinery is not able to supply these as we act as agent for selected gold producers in the refining, marketing and sale of their gold production. In so doing, we have liaison arrangements with members of the London Bullion Market Association (LBMA) for the sale and distribution of their products.
  • Should Rand Refinery not be in a position to assist with your needs, please contact any of the LBMA members on lbma.org/members
  • Rand Refinery only transacts on a principal-to-principal basis and does not transact through intermediaries. Please put your client in direct contact with us.
  • Rand Refinery publishes two daily retail sales price lists, including an am price fix and a pm price fix. A history of the daily price lists is also available. See Customer Zone > Retail Sales Pricing
  • No – gold mines do not sell finished product. The gold needs to be refined before sale, and in South Africa, this is done by Rand Refinery. Rand Refinery then markets and sells the gold to the London Bullion Market Association in London which in turn has members who sell physical gold to the public.
  • For ease of reference, we have listed the details of the three parties that you should approach for purchasing gold.
    1. Rand Refinery, South Africa (see the questions above on purchasing gold)
    2. London Bullion Market Association
    3. LBMA members
  • Rand Refinery does not supply gold dust. Please see the first question on this page regarding the sales of gold product for jewellers.
  • Rand Refinery does not sell gold bullion bars. Please see the second question on this page regarding gold bars.
  • In addition, please note that Rand Refinery sources gold in various forms from all over Africa – sources that are known to Rand Refinery and have been approved by the company. Gold is analogous to currency and for this reason Rand Refinery does not take any criminal or money laundering risks in any of its transactions.
  • Rand Refinery has been in business for over 90 years and has developed long-standing relationships with customers that are stringently and continuously checked for legal and company references in order to comply with all Financial Intelligent Control Act purposes.
  • Rand Refinery does not transact at any discount to the London market and in fact its gold products are offered at significant premiums to the London market.
  • In the case where a company is approved as a purchaser for retail sales after a stringent background check, goods will only be dispatched after cleared funds have been credited to Rand Refinery’s nominated bank account.
  • Rand Refinery does not carry large stock of silver, and our obligation is to fulfill international orders as a first priority
  • It is no longer regulation to be in possession of a precious metals permit for the purchase of silver, but Rand Refinery requires you to be a registered company (an individual cannot register in a private capacity).
  • Orders of 50gms and less will be levied with an administration fee of R250.00
  • Before new customers can purchase from our retail range of value-added products, an Application to Trade form is to be completed and returned with the relevant documents for security screening.  This application form can be requested from our CRM (see Contact Us for details)
  • All Rand Refinery gold is responsible gold which follows the ‘Chain of Custody’ requirements consistent with the Organisation of Economic Co-operation and Development (OECD) Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict Affected and High Risk Areas. It further complies with the London Bullion Market Association (LBMA) Responsible Gold Guidance and the World Gold Council certification of ‘Conflict-Free’ gold.
  • Certified gold adds one dimension to the requirements of responsible gold by guaranteeing that the gold was also mined with respect to the environment and not recycled from scrap or other secondary, untraceable sources as well as that the chain of custody through refining was traceable.
  • The RandPure® mark has been introduced by Rand Refinery as an iconic symbol that not only guarantees responsibility from mine to retail, but also exceptional fineness and craftsmanship. The following codes are used: EC – Excellent Craftsmanship, AF – Absolute Fineness, CF – Conflict Free, VM – Virgin Metal, CD – Contributes to Development.
  • As a reminder Rand Refinery will not respond either by reply e-mail or other communication to any agent, middle man, or third party on requests for information or process any applications to trade for an agent on his or his customers behalf even where a fee to process has been paid. Rand Refinery only deals with principles in the deposit or purchase of precious metals products. Agents who require information to enable you to inform customers of your own, are advised to have such parties approach Rand Refinery directly.
  • Rand Refinery does sell au proof wire (32gm). However, you need to be in possession of a valid permit from SADPMR. You will need to request an Application to Trade form, which can be requested from our CRM (see Contact Us for details). The whole application process takes about 4 weeks and there is an application fee of R2500.00 excluding vat.
  • No, Rand Refinery is a gold and silver You would need to contact Impala Refining Services for information on PGMs.
  • No, Rand Refinery is a gold and silver You would need to contact Impala Refining Services for information on PGMs.

Rand Refinery is required to adequately apply FICA requirements throughout all its transactions, especially as this relates to the potential of money laundering using precious metals as a conduit. As a result:

    • no cash, credit cards, cheques or bank guaranteed cheques will be accepted.
    • no cash deposits directly placed into our account will be accepted, only inter account transfers.
    • only Electronic Fund Transfers (EFT’s) into our account will be accepted as payment.
  • No, Rand Refinery does not give any discounts.
  • Rand Refinery does not sell Krugerrands to the general public, but rather through independent registered wholesalers and dealers.
  • Rand Refinery distributes its Krugerrand range of coins through authorised and approved International Dealers: Coins and Minted Bars and South African Dealers: Coins and Minted Bars.
  • The price for Krugerrands is based on the gold or silver content of the coin, plus a small premium to cover manufacturing and distribution costs.
  • Gold Krugerrands are not subject to VAT due to its legal tender status whereas silver Krugerrands are subject to VAT.
  • Any dealer who would want to sell Krugerrands would be required to complete Rand Refinery’s Krugerrand Pre-Application Form. It should be returned, with the relevant documents for security screening, to the email address provided on the form.
  •  
  • No the gold Krugerrand does not have a face value. The value of the coin is based on the fine gold content as priced twice daily on the London market. The silver Krugerrand has a face value of R1.
  • Depending on the nature of the project, there is a wide variety of material available on this site. Information on the mining industry generally can also be found on the website of the Chamber of Mines of South Africa and those of our shareholders – click here for links to other relevant websites.
  •  
  • Due to safety and security concerns, no public tours are allowed through the refinery. In certain circumstances, such as visting VIPs from other countries, management may approve strictly supervised tours through the refinery.
  • Rand Refinery can arrange for a quotation through its supplier, or the customer can contact Gold Reef City Mint (GRCM) directly, if they require a non-Rand Refinery specific bar – goldreefcity-mint.co.za
  • The Precious Metals Act of 2005 provides for the acquisition, possession, smelting, refining, beneficiation, use and disposal of precious metals in South Africa. Rand Refinery’s
    refining licence is issued under the Precious Metals Act of 2005. Download the Act here.
  • Rand Refinery will only transact with a registered company that is in possession of a valid Jewellers’ Permit/Works Recovery license. Rand Refinery does not transact with individuals in their private capacity.
  • Rand Refinery can assist with specific products relevant to the jewellery and dental manufacturing industry, such as granules, plate, wire, solder paste etc.
  • Before new customers can purchase from our retail range of value-added products, a Krugerrand Pre-Application Form is to be completed and returned, with the relevant documents for security screening, to the email address provided on the form.
  • Orders of 50gms and less will be levied with an administration fee of R250.00
  • In regard to gold bullion bars, Rand Refinery is not able to supply these as we act as agent for selected gold producers in the refining, marketing and sale of their gold production. In so doing, we have liaison arrangements with members of the London Bullion Market Association (LBMA) for the sale and distribution of their products.
  • Should Rand Refinery not be in a position to assist with your needs, please contact any of the LBMA members on lbma.org/members
  • Rand Refinery only transacts on a principal-to-principal basis and does not transact through intermediaries. Please put your client in direct contact with us.
  • Rand Refinery publishes two daily retail sales price lists, including an am price fix and a pm price fix. A history of the daily price lists is also available. See Customer Zone > Retail Sales Pricing
  • No – gold mines do not sell finished product. The gold needs to be refined before sale, and in South Africa, this is done by Rand Refinery. Rand Refinery then markets and sells the gold to the London Bullion Market Association in London which in turn has members who sell physical gold to the public.
  • For ease of reference, we have listed the details of the three parties that you should approach for purchasing gold.
    1. Rand Refinery, South Africa (see the questions above on purchasing gold)
    2. London Bullion Market Association
    3. LBMA members
  • Rand Refinery does not supply gold dust. Please see the first question on this page regarding the sales of gold product for jewellers.
  • Rand Refinery does not sell gold bullion bars. Please see the second question on this page regarding gold bars.
  • In addition, please note that Rand Refinery sources gold in various forms from all over Africa – sources that are known to Rand Refinery and have been approved by the company. Gold is analogous to currency and for this reason Rand Refinery does not take any criminal or money laundering risks in any of its transactions.
  • Rand Refinery has been in business for over 90 years and has developed long-standing relationships with customers that are stringently and continuously checked for legal and company references in order to comply with all Financial Intelligent Control Act purposes.
  • Rand Refinery does not transact at any discount to the London market and in fact its gold products are offered at significant premiums to the London market.
  • In the case where a company is approved as a purchaser for retail sales after a stringent background check, goods will only be dispatched after cleared funds have been credited to Rand Refinery’s nominated bank account.
  • Rand Refinery does not carry large stock of silver, and our obligation is to fulfill international orders as a first priority
  • It is no longer regulation to be in possession of a precious metals permit for the purchase of silver, but Rand Refinery requires you to be a registered company (an individual cannot register in a private capacity).
  • Orders of 50gms and less will be levied with an administration fee of R250.00
  • Before new customers can purchase from our retail range of value-added products, an Application to Trade form is to be completed and returned with the relevant documents for security screening.  This application form can be requested from our CRM (see Contact Us for details)
  • All Rand Refinery gold is responsible gold which follows the ‘Chain of Custody’ requirements consistent with the Organisation of Economic Co-operation and Development (OECD) Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict Affected and High Risk Areas. It further complies with the London Bullion Market Association (LBMA) Responsible Gold Guidance and the World Gold Council certification of ‘Conflict-Free’ gold.
  • Certified gold adds one dimension to the requirements of responsible gold by guaranteeing that the gold was also mined with respect to the environment and not recycled from scrap or other secondary, untraceable sources as well as that the chain of custody through refining was traceable.
  • The RandPure® mark has been introduced by Rand Refinery as an iconic symbol that not only guarantees responsibility from mine to retail, but also exceptional fineness and craftsmanship. The following codes are used: EC – Excellent Craftsmanship, AF – Absolute Fineness, CF – Conflict Free, VM – Virgin Metal, CD – Contributes to Development.
  • As a reminder Rand Refinery will not respond either by reply e-mail or other communication to any agent, middle man, or third party on requests for information or process any applications to trade for an agent on his or his customers behalf even where a fee to process has been paid. Rand Refinery only deals with principles in the deposit or purchase of precious metals products. Agents who require information to enable you to inform customers of your own, are advised to have such parties approach Rand Refinery directly.
  • Rand Refinery does sell au proof wire (32gm). However, you need to be in possession of a valid permit from SADPMR. You will need to request an Application to Trade form, which can be requested from our CRM (see Contact Us for details). The whole application process takes about 4 weeks and there is an application fee of R2500.00 excluding vat.
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Unathi Sihlahla

BA Hons Industrial Psychology, BA Human Resource Management

General Manager: Human Resources

Unathi holds an Honours Degree in Industrial Psychology from UNISA and has also completed a Bachelor’s Degree in Human Resource Management from Nelson Mandela University. She is an experienced HR professional with extensive experience in using Strategic Human Resources to drive value creation. Unathi has worked across a variety of different industries with vast geographical coverage – mainly multinational companies where she has provided HR support to the local South African market and the African continent with some regional responsibilities in EMEA. Her career started in the Uitenhage plant of Volkswagen Group South Africa, she has worked for and occupied generalist and niche HR positions in companies such as Sasol Limited, the JSE, ABB South Africa, BASF and Roche Diagnostics.

Unathi was appointed to the position of General Manager: Human Resources of Rand Refinery with effect from 1 March 2021.

Terance Nkosi

BEng (Chemical), BEng Honours (Environment), IMDP, PGDip (Human Sciences), MBA, MPHIL
Executive Head: SHEQ and Technical Assurance

Terance started his career at Samancor as a graduate metallurgist in January 2000. He later joined Rand Refinery as a plant metallurgist in August 2001, where he held various positions with the department. He was appointed as the Head: Smelter in May 2008 which is the position that he held until January 2016 when he was appointed as the Executive Head: SHEQ and Evaluation. In November 2024, his job was changed to Chief Technical and Sustainability Officer, with the goal of enhancing the technical and sustainability among compliance matters and government relations. In 2012, Terance was nominated as the rising star in the minerals and mining category and received the recognition of “pay it forward” as a leader in 2022 and 2024 that uplift community. Since the commencement of his career, he has been involved in the successful completion of several capital projects.

Peter Bouwer

General Manager: Refinery and Fabrication

Peter’s career initially commenced in 1992 as junior engineer with Sasol Secunda in the engineering department, with later roles in the business process information and strategy departments.  From 2004 he held positions in strategy develop at Sasol Technology, Sasol Head Office and Sasol Petroleum International before joining Rand Refinery in 2010.  In his various roles, Peter has worked in the fields of electrical and instrumentation engineering, process control systems, business information systems, business intelligence, corporate strategy development, operations management and manufacturing. His business experience spans the coal mining, energy and petro-chemical industries, upstream oil and gas industries as well as the precious metals refining industry.

Peter was appointed to the position of Chief Strategy Officer of Rand Refinery with effect from March 2010.  From 1 December 2014 he fulfilled the role of Chief Operating Officer of Rand Refinery with the appointment into his current role as General Manager: Refinery and Fabrication from 1 November 2016. Peter also served as director on the board of the Ekurhuleni Jewellery Project (EJP) NGO.

Peter has a passion to find the synergy in teams that will unlock desired performance and meaningful work experiences for every team member.

Collin Naicker

HND Mechanical Engineering, BCom, MBA, Government Certificate of Competency (Factories)

General Manager: Smelter and Engineering Services

Collin is a certified Mechanical Engineer with 28 years’ experience in the manufacturing, minerals beneficiation and the metals industries. He also completed a Bachelor’s Degree in Commerce (BCom) with specialisation in Management, Transport Economics and Logistics from the University of South Africa in 2006 and a Master’s in Business Administration (MBA) from the University of Cape Town’s Graduate School of Business’s in 2009. Collin also holds a government certificate of competency (GCC) for the factories environment.

Collin’s career initially commenced with Bell Equipment (Pty) Ltd, then BHP Billiton’s Aluminium South Africa and later Delta EMD Limited, where he held various technical and senior management positions in Engineering, Capital Projects, Business Improvement, Maintenance, Reliability, Production and Operations Management. Collin also held the senior executive role of Operations Director for JSE listed Delta EMD Limited and served on the Board of Directors.

In May 2016, Collin resigned as Operations Director of Delta EMD Limited to join Rand Refinery on 1 June 2016, as Head: Asset Care and Capital Projects. Since 1 November 2016, Collin has taken on the executive role of General Manager: Smelter and Engineering Services.

Herman Perry CA (SA)

Alternate Non-executive Director

Mr Perry was appointed executive: Treasury at Harmony Gold Mining Company Limited in September 2018. A chartered accountant with over 20 years’ experience in the finance and treasury functions of various gold mining companies, he also serves as director of certain Harmony Group companies. Mr Perry was appointed as an alternate non-executive director to Mr Mashego in July 2016.

Alexandra Strobl (46) CA (SA)

Non-executive Director – Alternates

Alex has in-depth mining operational African experience gained during her 16 years employment at AngloGold Ashanti focussed on the Continental African operations. She has previously been employed both at mine sites and at regional level in a senior financial management capacity and also led the Continental African regional supply chain function for 3 years. In 2019, Alex was appointed vice-president: group financial reporting.

Alex qualified as a charted accountant in 2009 after completing her articles at KPMG. Alex is an alternate director to Ian Kramer.

Vitesh Maharaj BSc

Non-executive Director

Mr Maharaj is currently senior vice-president of technical at AngloGold Ashanti and has both multi-product (diamonds, gold and platinum) and multinational exposure with a deep understanding of all facets of the mining business. Mr Maharaj joined Rand Refinery in May 2021 as a non-executive director and is a member of the SEC.

Mpho Mashatola BAccSci, CA (SA)

Non-executive Director

Financial and Business Development Manager at DRDGOLD. Ms Mashatola joined Rand Refinery in February 2019 as an alternate non-executive director, and following Mr Burrell’s retirement, was appointed as a non-executive director on 1 April 2024, and as a member of the Audit and Risk Committee on 20 August 2024.


Mark Burrell

BCom (Acct), MDP (Mining Management)

Non-executive Director

Mark joined DRDGOLD in 2004 to assist with the evaluation of their ERPM operation and thereafter transferred to Blyvooruitzicht Gold Mining Company as Financial Manager. In 2012, Mark was appointed as Financial Director of DRDGOLD’s Ergo Mining. He is a director of East Rand Proprietary Mines, Crown Consolidated Gold Recoveries, Ergo Business Development Academy and Ergo Mining.

Mark was appointed as an alternate director to Themba Gwebu on 24 May 2012 and currently serves as an alternate director to Charles Symons.

Mark joined the Board of Rand Refinery on 24 May 2012.

Ian Kramer (50) CA (SA)

Non-Executive Directors

Ian qualified as a charted accountant in 1993. He spent 20 years at KPMG, 11 years as an external audit partner as part of KPMG’s mining group. During this time he was seconded to Canada and subsequently appointed the KPMG head of mining for Africa. Ian joined AngloGold Ashanti in 2012 as vice- president: finance. He was promoted to senior vice- president: group finance in 2019 and interim chief financial officer from September 2020. Ian has considerable experience in IFRS as well as US GAAP.

Harry Ephraim "Mashego" Mashego

BA (Education), BA (Hons), (Human Resources Management) Joint Management Development Programme, Global Executive Development Programme, United Nations Global Leadership Award Recipient (March 2023)

Non-Executive Director

Mr Mashego was appointed an executive director of Harmony in February 2010 and is also a director of numerous Harmony Gold subsidiaries. He was appointed a non- executive director of Rand Refinery in August 2017 and is the Chairman of the SEC.

Pieter Henning BCom, BCompt (Hons), CA (SA)

Non-Executive Directors

Pieter is the divisional Chief Financial Officer of Sibanye Gold Limited’s (‘Sibanye’) gold and uranium business and is a qualified Chartered Accountant (South Africa). He started his career at KPMG Inc. after which he joined Western Areas Limited in 2005 as Financial Manager. He was appointed Chief Financial Officer of Western Areas Limited in January 2007 and, with Gold Fields Limited (‘Gold Fields’) acquiring Western Areas Limited later that year, he joined the Gold Fields financial reporting team. From 2009 to 2013, Pieter was part of the Gold Fields corporate finance division responsible for various capital raisings in the international and local debt markets. With the unbundling of Sibanye in 2013, Pieter was appointed as Vice President: Corporate Finance responsible for finance and the external financial reporting functions of Sibanye.

Pieter was appointed on 21 October 2005 as a non-executive director of Rand Refinery. He serves as a member of the Audit and Risk Committee and the Remuneration and Nominations Committee.

Fatima Daniels BSc, CA (SA)

Independent Non-Executive Director After several years in the auditing profession, Ms Daniels lectured in financial accounting before spending over a decade in various corporate positions. Ms Daniels was appointed as independent non-executive director in June 2012 and serves as the Chairman of the ARC.

Rams Ramashia BIuris, LLB, LLM

Independent Chairman

Rams has held senior positions in various international and domestic Non-Governmental organisations which he used as a platform for anti-apartheid activism prior to 1994, culminating in his election as founding President of the South African National NGO Coalition (SANGOCO). Following the democratisation of the South African society, he was appointed Deputy Director-General of the National Department of Labour and later elevated to the position of Director-General (DG) of the Labour Department.

As DG of Labour, he was Government Chief Negotiator and overall Convenor of the government caucus at the National Economic and Labour Council (NEDLAC). He also represented the South African Government at the International Labour Organisation (ILO). As Labour DG, he also presided over the process of amending the Labour Relations Act (LRA) and the Basic Conditions of Employment Act (BCEA), respectively.

Prior to joining government Rams also served on the then Deputy President Mbeki’s Advisory Committee on the National Development Agency (NDA) as Head of its legal task team.

In 2004, Rams was appointed Regional President of BP Africa and Executive Chairman of the Board of BP Southern Africa. In 2011, he became non-executive chairman of BP Southern Africa.

Rams is a practicing advocate of the High Court and member of the Pretoria Society of Advocates.

He is a non-executive director of AECI where he serves on its Risk, Social and Ethics, Remuneration and Nomination Committees, respectively. He is also a non-executive director of Anglo American South Africa, where he chairs its Social and Ethics Committee and also serves on its Risk and Audit Committee. Rams is also a non-executive director of the Mineworkers Investment Company (MIC).

Rams also serves as a member of the NDA Ethics Board chaired by former Constitutional Court Judge Yvonne Mokgoro and is a member of the Human Resource Development Council.

Rams was appointed as the Independent Chairman of the Board of Rand Refinery in October 2010 where he also serves as Chairman of its Remuneration and Nominations Committee.

Dean Subramanian

BCom, Hons Acc, CA (SA)

Chief Financial Officer

Mr Subramanian is a chartered accountant with extensive CFO and finance- executive experience and was appointed as CFO of Rand Refinery in August 2018.

Mr Subramanian held various positions in the banking, construction, aviation and property industries, in companies listed on the JSE. He has extensive experience in Africa and served his articles at Ernst & Young in Johannesburg, from where he was seconded to New York.

Praveen Baijnath

ChemEng, MSAIChe, MBA, PMD

Chief Executive Director

Mr Baijnath was appointed as the CEO of Rand Refinery in June 2015. His other directorships include PB, a joint venture between Rand Refinery and the SA Mint, the Ekurhuleni Jewelry Project and was appointed on the LBMA Board effective 6 July 2022.

Mr Baijnath is a chemical engineer with 31 years’ experience in minerals beneficiation and the chemicals process industry and is a member of the SA Institute of Chemical Engineers and the SA Institute of Directors. Mr Baijnath serves as a member of the SEC.

Independent Bodies

Available from:

100g and 1000g Purity can vary from 9950, 9990 to 9999

International Bullion Banks


Responsible gold and silver policy statement

Rand Refinery is opposed to activities which, directly or indirectly, finance or benefit armed conflict and the extreme levels of violence which contribute to abuses of human rights. Rand Refinery is also committed to sourcing mined gold from operations which conform to internationally-accepted environmental practices.

Consequently, Rand Refinery commits to refraining from knowingly sourcing gold and silver bearing material from regions and operations which contribute to the financing of conflict or the degradation of the environment and further commits itself to comply with the relevant United Nations sanctions, recommendations and protocols from other appropriate supra-national bodies, in this regard.

In the event that gold and silver bearing material is sourced from conflict-affected and high risk areas, Rand Refinery will neither tolerate nor by any means profit from, contribute to, assist with or facilitate the commission by any party of any forms of inhuman treatment, any form of forced labour, use of child labour, gross human rights violations, war crimes or other crimes against humanity.

Rand Refinery will not tolerate any direct or indirect support to non-state armed groups through the extraction, transport, trade, logistical assistance, handling or export of gold and silver bearing material by such groups or their affiliates. Rand Refinery will apply a robust Know Your Customer (KYC) policy in order to identify upstream suppliers where dealings with such suppliers would be in contravention of this policy, would represent money laundering or other related criminal activity. Rand Refinery will not engage with suppliers identified in this way and will not accept refining or smelting deposits from such suppliers.