Please introduce Rand Refinery and its role in localizing the gold supply chain in the continent? 

Rand Refinery is one of the world's leading gold and silver refiners and an operator of one of the continent’s largest low-grade gold recovery smelters. 

The refinery can refine and provide the necessary assurance for refinery deposits from 25% Au and upwards (typically mine dore and electrowinning sludge). Our smelter operations deal with complex low-grade materials (low-grade mine waste such as borax slag, gold-containing carbons, and refinery sweeps) ranging from 300 g/t Au upwards. Our history and experience in dealing with complex and different types of by-products and mine doré deposits are critical in the sampling and assaying processes, as precise content reflection for the depositing customer is of paramount importance.

Our products include Good Delivery bars, kilobars, minted bars, coin blanks, and value-added products, which are part of our signature offerings, including the world’s most widely held and actively traded gold bullion coin, the Krugerrand (with Prestige Bullion). With value-added products from Rand Refinery used globally in jewellery fabrication and industrial applications, the consumers of these products are ensured that this gold is responsibly sourced – in some instances, provenance data is supplied to select customers.

Accordingly, our gold comes from responsible producers who have implemented ESG targets and sustainability principles. Not only do we ensure we meet the strictest standards we set for ourselves, but our Certified Gold’s entire chain of custody is independently audited to heed the requirements set by independent bodies and recently enacted legislation.

What are recent developments and milestones?

As a further measure of our commitment to sourcing and producing ethically, we’ve developed the RandPure® mark. An iconic symbol of our pursuit of pure refinement, it guarantees the provenance, fineness, and exceptional quality of the precious metal it endorses. 

What are the areas that Rand Refinery is looking at to reduce its carbon footprint, encourage recycled gold, reduce water consumption etc.?

One of the most significant steps Rand Refinery has taken is its shift towards solar energy. 

We aim to exclusively use renewable energy sources (mainly solar) for our refining operations by 2027, except for the smelter, which will remain grid-operated. 

Equally important has been our focus on water conservation. Our initiatives to reduce water use and enhance recycling processes demonstrate a commitment to preserving vital resources in an industry that consumes large quantities of water. 

Recycling is a key business practice that shapes our approach. We have set a bold target to reduce waste by 50%, decreasing annual waste from 60 t/y to 30 t/y by enhancing the repurposing of recyclable materials.

Our approach to ESG also shares a robust focus on social elements. Between 2021 and 2023, we invested over R7.8 million in educational enhancements at local schools. The donations are part of a series of planned contributions focusing on academic support and community development projects. 

We are deeply committed to the community in which we operate. The Gold Zone, located on our premises, functions as a dynamic hub for training the youth in jewellery design, manufacturing, and skills development. Known as the Jewellery Village, this area is home to several businesses engaged in jewellery manufacturing, providing employment and fostering the development of local beneficiation capacity.

Our Silver and Gold Mentorship Programmes, established in partnership with the Ekurhuleni Jewellery Project (EJP), NQ Jewellers, and the South African Diamond and Precious Metals Regulator, have seen remarkable successes since inception in 2021. Since 2022, the programmes have celebrated the graduation of 42 Small, Medium, and Micro Enterprises (SMMEs). 

This year, we have enhanced the SMME curriculum and introduced personal coaching for sustainable start-up businesses. We remain committed to nurturing a diverse talent pool in a promising but underinvested industry. 

Our participation in the London Bullion Market Association's (LBMA) Gold Bar Integrity programme and World Gold Council mine traceability is a significant step. These programmes aim to digitally monitor gold moving through the global supply chain by confirming provenance and providing transparency over the chain of custody. 

The LBMA and World Gold Council have also introduced the Gold Industry Sustainability Principles, mandating refiners to show ongoing progress. Rand Refinery is currently set to achieve 80% of the requirements outlined in these established industry principles.

The international success of our RandPure gold bars, especially in a demanding market like India, highlights the competitive advantage of integrating ESG principles into core business strategies. RandPure gold is 100% ethically sourced and has completely traceable origins.