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The Rand Refinery is a private company owned by four leading South African gold mining companies, namely, Goldfields, AngloGold Ashanti, Harmony and DRDGOLD. The refinery, located in Germiston, east of Johannesburg, is the largest single gold refining and smelting site in the world and has refined more than 25% of the world's gold mining output.
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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.
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Rand Refinery acts 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 LBMA in London for the sale and distribution of gold refined by Rand Refinery into Value Added Products. ... P.O. Box 565 Germiston 1400 South Africa + 27 (0)11 418 ...
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May 07, 2015· DRD Gold, one of the first South African companies to abandon traditional mining to focus on extracting gold from tailings. New technology allows it to recover up to 40% of the gold left in particle form in tailings. DRD Gold extracted 33,600 ounces of gold, worth nearly US$40 million, in the last quarter of 2013.
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Aug 19, 2016· Rand Refinery has also increasingly had to cast its new wider for sourcing gold to process in its refinery as South African gold mining output has declined. Rand Refinery now refines over 75% of the gold mined on the African continent (excluding South Africa), and is also increasingly tapping into gold mining output from the US and Asia.
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Gold refining by solvent extraction—the Minataur™ in gold-refining technology, but may be instrumental in initiating important changes in the legislation regulating the marketing of gold in South Africa. Gold of either 99.99% or 99.999% purity can be produced from intermediate process products having a wide range of gold contents.
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What Is a Gold Krugerrand? A Gold Krugerrand is a 1 oz gold bullion coin produced by The South African Mint. It is accredited as being the first modern bullion investment gold coin and is still one of the most popular gold bullion coins in the world. Gold Krugerrands were designed and first minted in 1967 specifically as investment gold coins.
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Aug 16, 2012· With South Africa's economy built on gold and diamond mining, the sector is an important foreign exchange earner, with gold accounting for more than one-third of exports. In 2009, the country's diamond industry was the fourth largest in the world. South Africa is also a major producer of coal, manganese and chrome.