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KRUGERRAND
RAND REFINERY SOUTH AFRICAN MINTSECTIONS
Rand Refinery
Ownership2Major Gold Refiner2Krugerrand Blanks2Major Gold Bar Manufacturer2Accreditation2Certification3International Communication3
South African Mint
Ownership3Manufacturer of Gold Coins Since 18923Expansion 4Certification4International Communication4
Krugerrand
Authorization5Range5Legal Tender Status5Historical Development5Important Features6International Distribution6Technical Description7Visual Description8Sales Statistics9
Appendix
Historical Krugerrand Advertisements10
INTERNATIONALINFORMATION
Supplement2012
Rand Refinery
, the world’s largest single site gold refining and smeltingcomplex, is responsible for manufacturing the blanks for Krugerrand gold bullion coins, as well as for undertaking their sale and marketing worldwide. The
South African Mint
, wholly owned by the
Reserve Bank of SouthAfrica
, is responsible for the minting of Krugerrand gold bullion coins.
South African gold mines, over the past125 years, have produced approximately25% of all gold ever mined worldwide.The Krugerrand, the world’s first ounce-denominated gold bullion coin,has been mass produced since 1970.
2
Krugerrand
www.goldbarsworldwide.com
OWNERSHIPRand Refinery Pty Ltd
is a private company. Its shareholders are SouthAfrican gold mining companies which are members of the Chamber ofMines of South Africa.The refinery is located in Germiston, about 16 km east of Johannesburg.
MAJOR GOLD REFINER
Rand Refinery was established in 1920 by the Transvaal Chamber ofMines to refine all gold mined in South Africa, the world’s largest gold producing country during the 20th century.Since December 1921, when the original refinery was opened, more than40,000 tonnes of newly-mined gold have been refined, around 25% of allgold ever mined worldwide.
KRUGERRAND BLANKS
Rand Refinery has manufactured more than 1,500 tonnes (49 million oz)of blanks for the Krugerrand range of gold bullion coins.Since 1970, Rand Refinery has also been responsible for taking orders,receiving payment and arranging the delivery of Krugerrands worldwide. During the period October 1973 – April 1998, it worked closely withInternational Gold Corporation (Intergold), the marketing arm of theChamber of Mines of South Africa, Intergold being responsible for the appointment of primary distributors of the Krugerrand and the implementation of marketing programmes worldwide. In April 1998, Rand Refinery absorbed Intergold’s responsibilities whenIntergold became a wholly owned subsidiary.
MAJOR GOLD BAR MANUFACTURER
Rand Refinery is a major manufacturer of London Good Delivery 400 ozbars and smaller bars. Its relevant bars are accepted as “good delivery”by all of the world’s main associations and exchanges that deal in gold.Since 1997, following authorization by the Reserve Bank of South Africa(which formerly sold all South African gold, with the exception ofKrugerrands), Rand Refinery has also been mandated to act as an agentof gold mining companies in the sale of newly-mined gold output.
ACCREDITATION
1921* London Bullion Market Association1974 New York Mercantile Exchange (COMEX Division)1993 Tokyo Commodity Exchange2005 Dubai Multi Commodities Centre
* Estimated
In 2004, the London Bullion Market Association (LBMA) appointed RandRefinery as one of five foundation Referees to the LBMA London GoodDelivery system.
RAND REFINERY
Rand Refinery, established in 1920, isthe world’s largest single site gold refining and smelting complex.Rand Refinery has manufacturedLondon Good Delivery 400 oz gold barssince 1921.Rand Refinery has manufactured over58 million blanks for minting intoKrugerrands.
3
Krugerrand
www.goldbarsworldwide.com
CERTIFICATION
ISO 9001: 2008 – Quality Management SystemOHSAS 18001:2007 – Occupational Health and Safety ManagementSystemISO 14001:2004 – Environmental Management SystemNumber of employees: approximately 320.
INTERNATIONAL COMMUNICATION
Trade and public enquiries about Krugerrand gold bullion coins shouldbe directed to:Rand Refinery Pty Ltd, Refinery Road, Industries West, Germiston 1401,South Africa
Postal address:
Rand Refinery Pty Ltd, PO Box 565, Germiston 1400, South AfricaTel: +27-11-418 9000Fax: +27-11-418 9231 or 9248Email: gold@gold.co.zaWebsites:www.randrefinery.comwww.krugerrand.co.za
OWNERSHIP
The
South African Mint Company (Pty) Ltd
is a private company whoseonly shareholder is the South African Reserve Bank.The Mint is located at Gateway (a suburb of Centurion near Pretoria),about 40 km north of Johannesburg.
MANUFACTURER OF GOLD COINS SINCE 1892
The South African Mint dates its origins to the Pretoria Mint established by Paul Kruger, President of the original South African Republic (Zuid-Afrikaansche Republiek – ZAR), in 1892. It produced coinage until1899 and, subsequently in 1902, during the second Anglo-Boer War(1899-1902), at a “Field Mint” in Pilgrim’s Rest, a small town 300 km eastof Pretoria.For the next 21 years, no coins were minted in South Africa until a newmint was established in Pretoria (Visagie Street) in 1923 as the PretoriaBranch of The Royal Mint, London.In 1941, all ties with London were broken. It was formally renamed theSouth African Mint, controlled by the Government Department of Financeover the following 47 years.In 1988, in accordance with a new government policy of deregulation andprivatisation, the Mint was reconstituted as a private company, renamedSouth African Mint Company (Pty) Ltd. The South African Reserve Bankis the only shareholder.The Mint has struck gold coins for more than 100 years. The first wereKruger £1 and £½ gold coins (22 carat, weighing 7.988 g and 3.994 g),issued in 1892. In its role as the Pretoria Branch of The Royal Mint, 83 million sovereigns were minted between 1923 and 1932.
SOUTH AFRICAN MINT
The South African Mint has minted goldcoins since its establishment in 1892.Since 1970, 1,500 tonnes (49 million oz)of Krugerrands have been minted forthe international market.A production line of newly-mintedKrugerrands.
4
Krugerrand
www.goldbarsworldwide.comSince 1970, more than 57 million Krugerrand gold bullion coins havebeen minted.
EXPANSION
In 1992, the Mint was relocated to a new 11-hectare minting complex inCenturion (near Pretoria). In 1996, it created “Coin World”, comprising a museum, retail shop andrestaurant, for South African visitors and international tourists.The Mint operates internationally, manufacturing blanks and coins forcountries in Africa, Europe, Latin America, Middle East and Asia.
CERTIFICATION
2000ISO 9001Quality Management2004ISO 14001Environmental Management2007OHSAS 18001Occupational Health and Safety Assessment