1
February
Rand Refinery to Upgrade Refining to Boost Coins, Bus. Day Says
1 February 2011 Bloomberg.com
Rand Refinery Ltd. of South Africa will spend 500 million rand ($70 million) over the next five years to upgrade its gold and silver processes, Business Day reported, citing Managing Director Howard Craig.
The company will work with commercial banks to encourage retail buying of gold coins, the Johannesburg-based newspaper cited Craig as saying. The smelter’s capacity will double to 8,000 metric tons a year and production of refined silver will increase fourfold, it said.
