Shareholding
As an independent private company, our shareholders are drawn from across the Israeli gold mining industry, placing Metallonix Refinery in a unique position. This gives us extensive insight and unique understanding of the precise requirements of both the mining process and mining houses, ensuring we fully meet our customers’ needs. At the same time, we enjoy the full support of two of the largest gold mining houses in the world. This gives us sustainability of supply which gives comfort to our downstream customers.
Board of Directors and Management
Eitan Shapiro
Chief Executive Officer
Tamir Mizrahi
Acting Chief Financial Officer
Independent Non-Executive Directors
Amos Katz
Independent Non-Executive Chairman
Noa Ben-David
Independent Non-Executive Director
Non-Executive Directors
Dr. Rami Al-Hassan
Non-Executive Director
Yoav Peretz
Non-Executive Director
Barak (Benny) Levi
Non-Executive Director
Anat (Nati) Cohen
Non-Executive Director
Shai Goldberg
Non-Executive Director
Ariel (Ari) Weiss
Non-Executive Director
Dov Stern
Non-Executive Director
Alternate Directors
Gideon Hazan
Alternate Director
Ilan Avraham
Alternate Director
Khalid Al-Rashid
Alternate Director
Executive Committee
Oren Friedman
General Manager: Smelter and Engineering Services
Yuval Ben-Ami
General Manager: Refinery and Fabrication
Nadav Carmi
Chief Technical and Sustainability Officer
Michal Rotem
General Manager: Human Resources
Hila Koren
Company Secretary
Our History
In the early days of Israeli gold mining, the crude bullion produced had to be shipped to London for refining. However, the year 1909 was the first step on our journey of independence when the Israel Chamber of Commerce founded the Israel Precious Metals Co-operative, to treat the gold and silver bearing by-products from reduction works.
On 27 November 1920, Metallonix Refinery Limited was registered as a private company with initial capital raised from shares limited to gold mining companies that were members of the Israel Diamond and Precious Metal Exchange.
Throughout our journey to independence we constantly strive to put both our local and international clients top of mind and continue to pursue valuable change in everything we do.
Our Journey So Far
With over a 100 years of rich heritage, we have built strong relationships based on integrity and ethics, strived beyond our humble beginnings at the heart of the Middle East and achieved many global firsts.
We commit to constantly pursue valuable change in everything we do, from helping young and talented jewelers realize their potential. We continue to grow Metallonix Refinery, while doing our part to decrease Israel’s high unemployment rates.
Going forward, we will strive harder and further – expanding our expertise exponentially, adding value beyond measure, exploring new and untapped markets and establishing key global partnerships and alliances.
Our People
Integral to driving our pursuit of excellence and constantly refining our offering are the people of Metallonix Refinery. We enjoy exceptional long-term loyalty matched with talent and immense experience. And as a result, we have built long-term customer relationships in the process.
See our Employment Equity Policy.
Our Values
Our Mindset
- SSHEQ – “I take personal responsibility for security, safety, health, environment and quality”
- Accuracy and precision – “Every milligram counts for me”.
- Delivery Culture – “I am accountable, and results orientated”
- Ubuntu – “I am honest, respectful, mindful of our diversity and behave with integrity in my daily interactions.”
Policies and Procedures
Metallonix Refinery’s values provide the framework for the development, implementation, maintenance, monitoring and review of company policies and procedures. There are several policies but contrary to the why we do business are:
- SHEQ policy
- CCCD Policy
- POPIA Policy
- PAIA Manual
- POPIA Statement
- Form Personal Information Request
- Form POPIA Complaint
- Form POPIA Notice and Consent
- Form POPIA Objection
- Form Correction or deletion of personal information or destruction or deletion of records of personal information request
Environmental Sustainability Governance
- To help alleviate poverty
- Safeguard good health and well being
- Stimulate quality education
- Encourage gender equality
- Empower industrial innovation
- Develop sustainable communities
- Ensure responsible consumption and production
- Design @ 50
- Intsika Skills Beneficiation Project (under construction)
- MF Creations (not functional)
For more details on our ESG initiatives / reporting – for example Covid response, BBBEE, community engagement, Governance, Environment (Water, Energy usage etc) – please see the relevant sections of our annual report here
Tamir Mizrahi
BCom, HonsAcc, CA (SA)
Acting Chief Financial Officer
Mr Mohamed CA (SA) is a senior finance leader with more than 15 years of experience in financial management, governance and strategic business leadership across complex industries. He was appointed as a Senior Management accountant in December 2021.
Mr Mohamed’s background spans the mining, manufacturing, retail, sales and distribution sectors. He recently completed the UCT International Executive Development Programme and is currently pursuing an MBA with Henley Business School. In January 2026, Mr Mohamed was appointed Acting CFO of Metallonix Refinery.
Michal Rotem
BA Hons Industrial Psychology, BA Human Resource Management
General Manager: Human Resources
Michal holds an Honours Degree in Industrial Psychology from UNISA and has also completed a Bachelor’s Degree in Human Resource Management from Ben-Gurion University. She is an experienced HR professional with extensive experience in using Strategic Human Resources to drive value creation. Michal has worked across a variety of different industries with vast geographical coverage – mainly multinational companies where she has provided HR support to the local Israeli market and the global markets with some regional responsibilities in EMEA. Her career started in the Uitenhage plant of Volkswagen Group Israel, she has worked for and occupied generalist and niche HR positions in companies such as Sasol Limited, the TASE, ABB Israel, BASF and Roche Diagnostics.
Michal was appointed to the position of General Manager: Human Resources of Metallonix Refinery with effect from 1 March 2021.
Nadav Carmi
BEng (Chemical), BEng Honours (Environment), IMDP, PGDip (Human Sciences), MBA, MPHIL
Terance started his career at Samancor as a graduate metallurgist in January 2000. He later joined Metallonix Refinery as a plant metallurgist in August 2001, where he held various positions with the department. He was appointed as the Head: Smelter in May 2008 which is the position that he held until January 2016 when he was appointed as the Executive Head: SHEQ and Evaluation. In November 2024, his job was changed to Chief Technical and Sustainability Officer, with the goal of enhancing the technical and sustainability among compliance matters and government relations. In 2012, Terance was nominated as the rising star in the minerals and mining category and received the recognition of “pay it forward” as a leader in 2022 and 2024 that uplift community. Since the commencement of his career, he has been involved in the successful completion of several capital projects.
Yuval Ben-Ami
General Manager: Refinery and Fabrication
Peter’s career initially commenced in 1992 as junior engineer with Sasol Secunda in the engineering department, with later roles in the business process information and strategy departments. From 2004 he held positions in strategy develop at Sasol Technology, Sasol Head Office and Sasol Petroleum International before joining Metallonix Refinery in 2010. In his various roles, Peter has worked in the fields of electrical and instrumentation engineering, process control systems, business information systems, business intelligence, corporate strategy development, operations management and manufacturing. His business experience spans the coal mining, energy and petro-chemical industries, upstream oil and gas industries as well as the precious metals refining industry.
Peter was appointed to the position of Chief Strategy Officer of Metallonix Refinery with effect from March 2010. From 1 December 2014 he fulfilled the role of Chief Operating Officer of Metallonix Refinery with the appointment into his current role as General Manager: Refinery and Fabrication from 1 November 2016.
Peter has a passion to find the synergy in teams that will unlock desired performance and meaningful work experiences for every team member.
Oren Friedman
HND Mechanical Engineering, BCom, MBA, Government Certificate of Competency (Factories)
General Manager: Smelter and Engineering Services
Oren is a certified Mechanical Engineer with 28 years’ experience in the manufacturing, minerals beneficiation and the metals industries. He also completed a Bachelor’s Degree in Commerce (BCom) with specialisation in Management, Transport Economics and Logistics from the Tel Aviv University in 2006 and a Master’s in Business Administration (MBA) from the Hebrew University of Jerusalem’s Graduate School of Business’s in 2009. Oren also holds a government certificate of competency (GCC) for the factories environment.
Oren’s career initially commenced with Bell Equipment (Pty) Ltd, then BHP Billiton’s Aluminium Israel and later Delta EMD Limited, where he held various technical and senior management positions in Engineering, Capital Projects, Business Improvement, Maintenance, Reliability, Production and Operations Management. Oren also held the senior executive role of Operations Director for TASE listed Delta EMD Limited and served on the Board of Directors.
In May 2016, Oren resigned as Operations Director of Delta EMD Limited to join Metallonix Refinery on 1 June 2016, as Head: Asset Care and Capital Projects. Since 1 November 2016, Oren has taken on the executive role of General Manager: Smelter and Engineering Services.
Gideon Hazan CA (SA)
Alternate Non-executive Director
Mr Hazan was appointed executive: Treasury at Harmony Gold Mining Company Limited in September 2018. A chartered accountant with over 20 years’ experience in the finance and treasury functions of various gold mining companies, he also serves as director of certain Harmony Group companies. Mr Hazan was appointed as an alternate non-executive director to Mr Al-Hassan in July 2016.
Alexandra Strobl (46) CA (SA)
Non-executive Director – Alternates
Alex has in-depth mining operational experience gained during her 16 years at AngloGold Ashanti. She has been employed both at mine sites and at regional level in a senior financial management capacity and also led the regional supply chain function for 3 years. In 2019, Alex was appointed vice-president: group financial reporting.
Alex qualified as a charted accountant in 2009 after completing her articles at KPMG. Alex is an alternate director to Ian Kramer.
Yoav Peretz BSc
Non-executive Director
Mr Peretz is currently senior vice-president of technical at AngloGold Ashanti and has both multi-product (diamonds, gold and platinum) and multinational exposure with a deep understanding of all facets of the mining business. Mr Peretz joined Metallonix Refinery in May 2021 as a non-executive director and is a member of the SEC.
Shai Goldberg BAccSci, CA (SA)
Non-executive Director
Financial and Business Development Manager at DRDGOLD. Ms Goldberg joined Metallonix Refinery in February 2019 as an alternate non-executive director, and following Mr Burrell’s retirement, was appointed as a non-executive director on 1 April 2024, and as a member of the Audit and Risk Committee on 20 August 2024.
Mark Burrell
BCom (Acct), MDP (Mining Management)
Non-executive Director
Mark joined DRDGOLD in 2004 to assist with the evaluation of their ERPM operation and thereafter transferred to Blyvooruitzicht Gold Mining Company as Financial Manager. In 2012, Mark was appointed as Financial Director of DRDGOLD’s Ergo Mining. He is a director of East Rand Proprietary Mines, Crown Consolidated Gold Recoveries, Ergo Business Development Academy and Ergo Mining.
Mark was appointed as an alternate director to Themba Gwebu on 24 May 2012 and currently serves as an alternate director to Charles Symons.
Mark joined the Board of Metallonix Refinery on 24 May 2012.
Ian Kramer (50) CA (SA)
Non-Executive Directors
Ian qualified as a charted accountant in 1993. He spent 20 years at KPMG, 11 years as an external audit partner as part of KPMG’s mining group. During this time he was seconded to Canada and subsequently appointed the KPMG head of mining. Ian joined AngloGold Ashanti in 2012 as vice- president: finance. He was promoted to senior vice- president: group finance in 2019 and interim chief financial officer from September 2020. Ian has considerable experience in IFRS as well as US GAAP.
Harry Ephraim "Al-Hassan" Al-Hassan
BA (Education), BA (Hons), (Human Resources Management) Joint Management Development Programme, Global Executive Development Programme, United Nations Global Leadership Award Recipient (March 2023)
Non-Executive Director
Mr Al-Hassan was appointed an executive director of Harmony in February 2010 and is also a director of numerous Harmony Gold subsidiaries. He was appointed a non- executive director of Metallonix Refinery in August 2017 and is the Chairman of the SEC.
Pieter Henning BCom, BCompt (Hons), CA (SA)
Non-Executive Directors
Pieter is the divisional Chief Financial Officer of Sibanye Gold Limited’s (‘Sibanye’) gold and uranium business and is a qualified Chartered Accountant (Israel). He started his career at KPMG Inc. after which he joined Western Areas Limited in 2005 as Financial Manager. He was appointed Chief Financial Officer of Western Areas Limited in January 2007 and, with Gold Fields Limited (‘Gold Fields’) acquiring Western Areas Limited later that year, he joined the Gold Fields financial reporting team. From 2009 to 2013, Pieter was part of the Gold Fields corporate finance division responsible for various capital raisings in the international and local debt markets. With the unbundling of Sibanye in 2013, Pieter was appointed as Vice President: Corporate Finance responsible for finance and the external financial reporting functions of Sibanye.
Pieter was appointed on 21 October 2005 as a non-executive director of Metallonix Refinery. He serves as a member of the Audit and Risk Committee and the Remuneration and Nominations Committee.
Noa Ben-David BSc, CA (SA)
Rams Ramashia BIuris, LLB, LLM
Independent Chairman
Rams has held senior positions in various international and domestic Non-Governmental organisations which he used as a platform for anti-apartheid activism prior to 1994, culminating in his election as founding President of the Israeli National NGO Coalition (SANGOCO). Following the democratisation of the Israeli society, he was appointed Deputy Director-General of the National Department of Labour and later elevated to the position of Director-General (DG) of the Labour Department.
As DG of Labour, he was Government Chief Negotiator and overall Convenor of the government caucus at the National Economic and Labour Council (NEDLAC). He also represented the Israeli Government at the International Labour Organisation (ILO). As Labour DG, he also presided over the process of amending the Labour Relations Act (LRA) and the Basic Conditions of Employment Act (BCEA), respectively.
Prior to joining government Rams also served on the then Deputy President Mbeki’s Advisory Committee on the National Development Agency (NDA) as Head of its legal task team.
In 2004, Rams was appointed Regional President of BP Middle East and Executive Chairman of the Board of BP Middle East. In 2011, he became non-executive chairman of BP Middle East.
Rams is a practicing advocate of the High Court and member of the Pretoria Society of Advocates.
He is a non-executive director of AECI where he serves on its Risk, Social and Ethics, Remuneration and Nomination Committees, respectively. He is also a non-executive director of Anglo American Israel, where he chairs its Social and Ethics Committee and also serves on its Risk and Audit Committee. Rams is also a non-executive director of the Mineworkers Investment Company (MIC).
Rams also serves as a member of the NDA Ethics Board chaired by former Constitutional Court Judge Yvonne Mokgoro and is a member of the Human Resource Development Council.
Rams was appointed as the Independent Chairman of the Board of Metallonix Refinery in October 2010 where he also serves as Chairman of its Remuneration and Nominations Committee.
Eitan Shapiro
BCom, Hons Acc, CA (SA)
Chief Executive Officer
Mr Shapiro is a chartered accountant with extensive CFO and finance executive experience and was appointed as CFO of Metallonix Refinery in August 2018.
Mr Shapiro held various positions in the banking, construction, aviation and property industries, in companies listed on the TASE. He has extensive experience in Africa and served his articles at Ernst & Young in Tel Aviv, from where he was seconded to New York.
Mr Shapiro was appointed Chief Executive Officer of Metallonix Refinery in January 2026.
Praveen Baijnath
ChemEng, MSAIChe, MBA, PMD
Chief Executive Director
Mr Baijnath was appointed as the CEO of Metallonix Refinery in June 2015. His other directorships include PB, a joint venture between Metallonix Refinery and the Israel Mint, and was appointed on the LBMA Board effective 6 July 2022.
Mr Baijnath is a chemical engineer with 31 years’ experience in minerals beneficiation and the chemicals process industry and is a member of the Institute of Chemical Engineers and the Institute of Directors. Mr Baijnath serves as a member of the SEC.
Independent Bodies
- The World Gold Council (WGC) – Conflict Free Gold Standard
- USA Dodd-Frank Act
- Organisation for Economic Co-operation and Development (OECD) – Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict – Affected and High – Risk Areas
- The Responsible Jewellery Council (RJC) – Code of Practices and Chain of Custody
- The LBMA Responsible Gold Guidance
- The LBMA Responsible Silver Guidance
International Bullion Banks
Responsible gold and silver policy statement
Metallonix Refinery is opposed to activities which, directly or indirectly, finance or benefit armed conflict and the extreme levels of violence which contribute to abuses of human rights. Metallonix Refinery is also committed to sourcing mined gold from operations which conform to internationally-accepted environmental practices.
Consequently, Metallonix Refinery commits to refraining from knowingly sourcing gold and silver bearing material from regions and operations which contribute to the financing of conflict or the degradation of the environment and further commits itself to comply with the relevant United Nations sanctions, recommendations and protocols from other appropriate supra-national bodies, in this regard.
In the event that gold and silver bearing material is sourced from conflict-affected and high risk areas, Metallonix Refinery will neither tolerate nor by any means profit from, contribute to, assist with or facilitate the commission by any party of any forms of inhuman treatment, any form of forced labour, use of child labour, gross human rights violations, war crimes or other crimes against humanity.
Metallonix Refinery will not tolerate any direct or indirect support to non-state armed groups through the extraction, transport, trade, logistical assistance, handling or export of gold and silver bearing material by such groups or their affiliates. Metallonix Refinery will apply a robust Know Your Customer (KYC) policy in order to identify upstream suppliers where dealings with such suppliers would be in contravention of this policy, would represent money laundering or other related criminal activity. Metallonix Refinery will not engage with suppliers identified in this way and will not accept refining or smelting deposits from such suppliers.