The company will release more information about its plans for the Romanian market in a press conference due Monday.
Rand Refinery was founded in 1920 in Germiston, South Africa, to refine all the gold produced by South Africa’s gold mines. Since its inception it has refined nearly 50,000 tons of gold, which accounts for 30% of all the gold mined in the world since antiquity.
Rand Refinery facilitates a wide range of value-added products including cast bars, minted bars, minted coins, coin blanks and medallions and semi-fabricated products for the jewelry manufacturing industry.
By law, the South African Mint Company is the only company allowed to manufacture South African legal tender coins such as the world famous Krugerrand. All the gold used to manufacture the coins is supplied by Rand Refinery, who has been appointed the sole supplier of bullion Krugerrands to primary distributors both locally and internationally.
In addition to its smelting and refining services, Rand Refinery offers metallurgical, logistics and vault services. It acts as an agent for its precious metal depositing customers and its global markets business unit markets all the precious metal produced by the refinery.