Rand Refinery: World’s Leading Gold Refinery in South Africa
Rand Refinery, located in Germiston, South Africa, is one of the largest and most respected integrated precious metal refineries on the planet. Established over a century ago, it has played an indispensable role in transforming South Africa’s vast gold output into internationally recognized, high-purity bullion.
As the proud producer of the iconic Krugerrand and holder of London Bullion Market Association (LBMA) accreditation since the list’s inception, Rand Refinery sets the global benchmark for quality, integrity, and responsible gold refining.
In this comprehensive guide, we explore Rand Refinery’s rich history, its state-of-the-art gold refining process, the full range of services and products it offers, and its continuing influence on the global gold market.
History of Rand Refinery: From 1920 to Global Leadership
Rand Refinery was officially established in 1920 by the Chamber of Mines of South Africa as a central facility to refine the enormous quantities of gold being extracted from the Witwatersrand reefs.
At the time, South Africa produced almost 50% of the world’s newly mined gold, yet most of it was shipped overseas for refining. The founding of Rand Refinery ended that dependency and kept more value within the country.
The refinery opened its doors on 27 May 1921, and within its first year refined over 100 tonnes of gold. Originally a wholly-owned subsidiary of the Chamber of Mines, it operated as a cooperative venture among the major mining houses — AngloGold Ashanti, Gold Fields, Harmony, Sibanye-Stillwater, and others.
Over the decades, Rand Refinery expanded capacity multiple times and embraced cutting-edge technology. By the 1970s it was already producing the famous Krugerrand, the world’s first modern one-ounce gold bullion coin, launched in 1967 in partnership with the South African Mint.
Today, Rand Refinery Limited is a private company jointly owned by South Africa’s five largest gold producers, with AngloGold Ashanti historically holding the largest stake.
A pivotal moment came in 2006 when the refinery moved to a new, purpose-built 72,000 m² facility on the original Germiston site, incorporating the latest environmental and safety standards while dramatically increasing capacity to over 800 tonnes of gold per year.
Rand Refinery Location and Facilities
Rand Refinery is situated in Germiston, Ekurhuleni, approximately 20 km east of Johannesburg, in the heart of South Africa’s historic gold-producing region. The address is: 1 Refinery Road, Industries East, Germiston, Gauteng, 1400, South Africa.
The modern complex houses one of the world’s largest gold smelters, advanced chlorination and electrolytic refining plants, a dedicated Krugerrand minting facility, and accredited assay laboratories. Security is unsurprisingly world-class, with multiple layers of physical and electronic protection.
Rand Refinery Services: From Mine to Market
Rand Refinery offers a complete suite of precious metal services that cater to large mining companies, central banks, jewelers, recyclers, and even small-scale artisanal miners.
1. Gold and Silver Refining
The core business remains the refining of doré bars (semi-pure gold from mines) and recycled material into investment-grade bullion of 99.99% or higher purity (known as “four-nines” gold). Rand Refinery can also refine silver to 99.99% purity.
2. Smelting and Granulation
Large induction furnaces smelt incoming material, while continuous casting and granulation systems prepare metal for further refining.
3. Assaying and Sampling
Rand Refinery’s ISO 17025-accredited laboratories perform fire assay, X-ray fluorescence, and ICP analysis to determine exact precious-metal content with extreme precision.
4. Bullion Manufacturing
The refinery produces cast and minted bars in weights from 1 gram to 400 ounces, as well as blank planchets for coin minting worldwide.
5. Krugerrand Production
Since 1967, Rand Refinery has been the sole supplier of gold blanks for the South African Mint’s legendary Krugerrand series.
6. Secure Storage and Vaulting
Clients can store refined metal in Rand Refinery’s high-security vaults before taking delivery or selling on international markets.
7. Responsible Sourcing & Due Diligence
Rand Refinery is fully compliant with OECD Due Diligence Guidance, LBMA Responsible Gold Guidance, and RMI standards, offering traceable, conflict-free gold.
The Rand Refinery Gold Refining Process – Step by Step
Rand Refinery employs a combination of pyrometallurgical and electrochemical techniques to achieve exceptional purity.
Step 1: Receipt and Sampling
Doré bars or recycled material arrive under strict chain-of-custody protocols. Robotic sampling systems ensure representative samples are taken for assaying.
Step 2: Smelting
Material is melted in large induction or plasma furnaces at over 1,200 °C. Fluxes help separate base metals and slag.
Step 3: The Miller Chlorination Process
Molten gold is treated with chlorine gas. Impurities such as silver, copper, and iron form chlorides that are skimmed off or volatilized, raising purity to approximately 99.5–99.7%.
Step 4: Electrolytic Refining (Wohlwill Process)
The pre-refined gold becomes the anode in an electrolytic cell containing gold chloride solution. Pure gold deposits on the cathode, while remaining impurities drop as anode slime (which is further processed for platinum-group metals). This step achieves the final 99.99% or 99.995% purity.
Step 5: Melting, Casting, and Minting
Pure gold is melted under controlled conditions, cast into bars or granulated, then minted into coins or stamped with serial numbers, weight, purity, and the famous Rand Refinery oval hallmark.
Step 6: Independent Assaying and Certification
Every bar or batch undergoes final assaying and receives a certificate of analysis. LBMA Good Delivery bars also carry the refinery’s unique mark and year letter.
Rand Refinery Products: Investment-Grade Bullion Trusted Worldwide
Gold Bars
- Kilobars (≈1 kg, 995 or 999.9 fine)
- 400 oz Good Delivery Bars (London/Zurich standard)
- Smaller cast and minted bars (1 oz, 100 g, 50 g, 10 oz, etc.)
Krugerrand Coins
The world’s most traded gold bullion coin, available in 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz denominations. Over 60 million ounces sold since 1967.
Silver Bars and Coins
999 fine silver bars and limited-edition commemorative coins.
Custom Products
Bespoke bars, medallions, and industrial granules for jewelry and electronics sectors.
Every product carries the iconic Rand Refinery logo — an oval containing the letters “RR” and the words “Rand Refinery” — instantly recognized by dealers and investors globally.
LBMA Accreditation and Global Standing
Rand Refinery has been on the LBMA Good Delivery List for gold since the list began in 1934, and for silver since 2006. This accreditation is the gold standard (literally) for refiners: only about 70 refineries worldwide hold gold status, and fewer than 50 hold both gold and silver.
Being LBMA-accredited means:
- Guaranteed minimum purity of 99.5% for large bars (in practice, Rand Refinery delivers 99.99%+)
- Strict responsible-sourcing audits
- Bars accepted without further assaying on major exchanges (Loco London, COMEX, Shanghai, etc.)
Environmental and Social Responsibility
Rand Refinery has invested heavily in sustainability:
- Zero liquid effluent discharge system
- State-of-the-art fume extraction and acid gas scrubbing
- 100% recycling of process water
- Recovery of platinum-group metals from anode slimes
- ISO 14001 and ISO 45001 certified
- Significant community investment in education, health, and skills development around Germiston
The refinery is also a founding signatory of the World Gold Council’s Responsible Gold Mining Principles and participates in the Extractives Industry Transparency Initiative (EITI) in South Africa.
FAQs About Rand Refinery
What is Rand Refinery?
Rand Refinery is South Africa’s (and one of the world’s) largest integrated precious metal refineries, established in 1920 to refine gold and produce bullion products.
Where is Rand Refinery located?
1 Refinery Road, Germiston, Gauteng, South Africa.
How does Rand Refinery refine gold?
It uses a combination of the Miller chlorination process and the Wohlwill electrolytic process to achieve 99.99%+ purity.
What products does Rand Refinery produce?
400 oz Good Delivery bars, kilobars, smaller minted bars, Krugerrand coins, silver bars, and custom bullion products.
Is Rand Refinery LBMA certified?
Yes, it has held LBMA Good Delivery status for gold since 1934 and for silver since 2006.
How pure is gold refined at Rand Refinery?
Typically 99.99% (“four-nines”) or higher; many bars exceed 99.995%.
Can individuals sell scrap gold to Rand Refinery?
While the refinery primarily serves institutional and mining clients, it works through authorized dealers who accept scrap from the public.
Conclusion: Why Rand Refinery Remains Essential to the Global Gold Industry
More than a century after its founding, Rand Refinery continues to refine roughly one-third of all newly mined gold from South Africa — still one of the top gold-producing nations — and plays a pivotal role in recycling secondary gold. Its combination of scale, technological excellence, uncompromising quality standards, and responsible practices ensures that “RR”-stamped gold bars and Krugerrands remain among the most trusted and liquid forms of physical gold anywhere on earth.
Whether you are a central bank adding to reserves, an investor buying Krugerrands, or a jeweler sourcing certified gold, Rand Refinery stands behind every ounce it produces.
For refining services, bullion purchases, or to arrange a secure vaulting solution, visit the official Rand Refinery.