Barrick Expands Bonds with Rand Refinery

Rand Refinery
Rand RefineryImage Source: Sibanye Stillwater

Synopsis

Barrick Gold Corporation's subsidiary, Twiga Minerals Corporation, strengthens its gold refining collaboration with South Africa-based Rand Refinery. This initiative aims to consolidate Barrick's African gold refining operations by directing the majority of its gold doré to Rand Refinery, ensuring compliance with LBMA Responsible Gold Guidance and OECD Due Diligence Guidance.

Article

In a significant move towards enhancing its gold refining processes, Barrick Gold Corporation, through its subsidiary Twiga Minerals Corporation, has expanded its partnership with Rand Refinery, a globally acclaimed gold and silver refiner based in South Africa.

This strategic step involves Rand Refinery conducting its on-site due diligence process concerning Twiga's operations, aligning with the stringent guidelines set forth by LBMA's Responsible Gold Guidance and the OECD Due Diligence Guidance. Following this meticulous assessment, the bulk of Twiga's gold doré will now be routed to Rand Refinery, while MMTC PAMP will continue to refine the remaining balance.

Historically, all gold from Barrick's various African operations has been directed to Rand Refinery, highlighting its reputation as a trusted refining partner. To further streamline and consolidate Barrick's African-based refining procedures, the decision was made to centralize the majority of gold doré processing through a single refinery.

This endeavor underscores Barrick's commitment to responsible gold production and ethical refining practices, ensuring adherence to international standards of transparency and sustainability.

For further information or enquiries, please contact the respective Barrick Gold Corporation representatives.

Conclusion

In summary, Barrick Gold Corporation's pursuit of refining excellence has led to an expansion in its collaboration with Rand Refinery. This strategic partnership not only signifies a step towards refining consolidation but also reflects Barrick's dedication to responsible and transparent gold refining practices.

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