Rand Refinery, Africa’s only London Bullion Market Association (LBMA)-accredited precious metals refinery and a global referee, today unveiled its Sustainability Report. The report covers the last three years’ performance, underscoring its commitment to refining with integrity, creating shared value, and pioneering technologies in its already demonstrated responsible gold practices that set new benchmarks for the industry.

“Sustainability is embedded in every ounce of gold we refine,” says Rand Refinery CEO Praveen Baijnath. “This report is more than a record of environmental data points or governance metrics — it is a statement of intent. It reaffirms our belief that gold refined responsibly has the power to uplift communities, protect the planet, and drive long-term value for all our stakeholders.”

Rand Refinery’s environmental stewardship reflects an unwavering focus on reducing its ecological footprint while securing operational resilience and cost efficiencies. 

·         It has reduced total energy consumption by 24% since 2021 to 24.5GWh in 2024, with a further targeted reduction to 20.47GWh by 2028

·         Over R75 million has been invested in installing a 4.5 MW solar farm

·         Energy-efficient technologies and start-up sequences towards achieving overall decarbonisation of 8.5 kilotons of CO2e 

·         By 2027, the refinery expects 13,500 kilotons of CO2e reduction

Operations are currently 80% powered by the “African Sun” and will be 100% powered by renewables by 2027. Rand Refinery promotes the use of solar technologies at work and further enhances adoption by offering interest-free loans to employees to install panels. Despite South Africa’s ongoing energy challenges, the company has successfully avoided any negative impact of load shedding on its operations. 

“The transition to renewables by 2027 could benefit approximately 9,000 households by releasing industrial capacity back to the ESKOM grid,” said Mr Baijnath.

Water conservation has also been a priority, with consumption cut by 23.4% since 2021 to 55,473kl in 2024, surpassing its water-saving target and setting the course towards a total of 44% reduction in water usage by 2027. The current focus is on eliminating any effluent and commencing work on harvesting practices. 

“These industrial activities towards net water savings can reduce load on an already strained water supply in the Region and could benefit thousands of homes. The relevance of such initiatives due to scarcity in South Africa has a far greater impact,” said Mr Baijnath. 

The company has also preserved biodiversity by ensuring that the nearby Germiston Lake remains pollution-free and is in the process of planting 400 indigenous trees in nearby schools. 

People remain at the heart of Rand Refinery’s sustainability journey. The health and safety programmes have shown excellent results in that the company has exceeded 3.5 years of operation without a lost-time injury, and there are no reportable cases or occupational diseases that can be ascribed to operations. Further, the company has a wellness strategy that has eight dimensions. Called “Khula Nathi”, the company continues to prioritise wellness and wellbeing, with support extended to associates and essential contractors onsite. 

Rand Refinery plays a leading role in the fight against gender-based violence (GBV), having invested R3 million in Mercy Haven, a flagship GBV safe house in Boksburg that supports survivors of abuse with recovery, restoration and societal reintegration. It also funded and established a dedicated GBV safe room at the Germiston Police Station, creating a safe and confidential sanctuary for women and children in crisis.

The company is highly committed to education, skills development, and entrepreneurship, with over R43m spent. 

·         Programme offering bursaries to students across the country, and also employing unemployed youth

·         Spent R6.5 million to renovate infrastructures at primary and high schools, donated stationery, school shoes, and STEM libraries to various secondary schools across the nine provinces

·         ICT equipment to make administration easier and provides dignity through offering hygiene equipment

·         Since 2021, Rand Refinery has provided R8.4 million in bursaries, supporting 95 students and nurturing a pipeline of future industry talent

Its partnership with the Ekurhuleni Jewellery Project (chaired by the Rand Refinery CEO), NQ Jewellery, and the South African Diamond and Precious Metals Regulator has empowered over 55 small and medium-sized jewellery enterprises through interest-free silver and gold loans, mentorship, and access to markets, ensuring that the downstream jewellery industry continues to thrive locally. 

Through a bespoke diversity, equity, inclusion, and belonging (DEIB) programme, Rand Refinery is shaping a workplace where women lead boldly, innovate freely, and rise confidently. “Each initiative reflects our belief that community investment is not charity – it is a partnership for the long term. We believe our products must leave their glitter not in vaults, but in classrooms, clinics, communities, universities, with small business entrepreneurs and the environment,” says  Baijnath.

Rand Refinery is redefining product leadership through innovation and responsible sourcing. Every product refined and fabricated — from cast bars to minted coins — tells a story of integrity, provenance and transparency. 

·         The introduction of RandPure® has enabled verified ethical sourcing, while participation in the Gold Bar Integrity (GBI) initiative and the integration of cutting-edge digital technologies ensure gold is both responsibly sourced and digitally traceable

·         The adoption of the Bullion Integrity Ledger™, a blockchain-powered distributed ledger solution, provides end-to-end visibility from mine to market, strengthening trust across the global value chain

·         Rand Refinery joined the aXedras platform in May 2024 and went live on the GBI platform in August 2024. By April 2025, it had published more than 1,700 provenance records on the system, further cementing its position as a leader in transparency and ESG-compliant products

Integrity. Accountability. Transparency

Rand Refinery’s governance model is anchored in integrity, accountability, and transparency. The company adheres to globally recognised frameworks, including the LBMA Responsible Gold and Silver Guidance, the OECD Due Diligence Guidelines, the UN Sustainable Development Goals, and South Africa’s King IV principles on corporate governance. Its governance ecosystem ensures compliance with anti-bribery, anti-money-laundering, and know-your-customer protocols, while aligning its reporting with GRI and TCFD standards to uphold best-in-class disclosure practices. 

“Our purpose is clear: to benefit precious metals in a manner that upholds dignity, builds trust, and creates enduring value for Africa and beyond,” says Baijnath.

Looking ahead, Rand Refinery is positioning itself for a future powered by ethical innovation and inclusive growth. Through strategic investments in cutting-edge technologies, a commitment to responsible sourcing, and a focus on socio-economic empowerment, the company is driving Africa’s precious metals industry into a new era defined by integrity, inclusivity, and impact. 

“We invest in communities for impact — from education and healthcare to empowerment. Through the lens of sustainability, we have refined more than precious metals; we have refined possibilities. Every bar we produce, every ounce of our refined product that travels the world, carries with it more than the product's face value; it carries responsibility, because we believe that African gold must do more, it must serve its people.”

Baijnath concludes: “With every ounce of gold refined, we uphold a promise: that Africa’s gold can shine brighter when it carries a story of purpose and possibility.”

Download the report here: https://www.randrefinery.com/sustainability/