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Rand Refinery even suspension in the sludge by- product of some other manufacturing process. Either way, an assessment of the gold content needs to be made and then the gold recovered. There are very few such smelters around the world and even fewer with a refinery attached. Rand Refinery's smelter uses the latest technology, making it both efficient and environmentally sound. " We are also considering having assay facilities in target countries," Craig says, " which will enable us to determine more efficiently, and quickly, whether the source material is worth the effort." Some years ago, Rand Refinery moved from its former ' break- even' business model to a profitable, self-sustaining business; in the process, it created a cash- rich war chest for Craig to work with. With a clear eye to the future, it's unlikely Rand Refinery will be going the way of the steam trains any time soon. - Editorial research by Vincent Kielty their own currency protection strategy, buying gold bars, jewellery or coins. Historically, Rand Refinery has made gold bullion; however, these days the emphasis is on adding value by processing the gold to the next stage. Alongside Krugerrands, other small bars or coins and coin blanks, there is a range of semi- finished products for jewellery manufacture. In fact, part of the work done by Rand Refinery's treasury and sales department is to encourage buyers to take more of the value added range. " As part of the review I'm doing," says Craig, " we are investigating the feasibility of making jewellery itself. We're thinking of the mass market where we could manufacture chains or earrings on automated machinery." But the value added approach with the greatest current appeal is to increase the throughput of its smelting operation. Gold can be recovered from many not easily- accessible forms- electronic components or January 10 www. bus- ex. com 41

42 www. bus- ex. com January 10 underground Going