Responsible Gold
Metallonix Refinery is committed to internationally accepted responsible sourcing practices and as such is in conformance with the LBMA Responsible Gold & Silver Guidance and the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High Risk Areas.
Not only do we ensure we meet the strictest standards we set for ourselves, our certified gold & silver chain-of-custody is independently audited to heed to the requirements set by independent bodies and recently enacted legislation:
Metallonix Refinery is a key participant in forums regarding the best practice in sourcing and in bound supply chain. Metallonix Refinery attends:
- Forums on Responsible Minerals Supply Chains
- World Bank – OECD Roundtable on establishing a global platform on artisanal and small-scale mining
Certified Gold
Certified Gold adheres to the Responsible Gold policy and guarantees that all gold was mined in an eco-friendly manner and not recycled from scrap or other secondary, untraceable sources. It ensures that the chain of custody though refining can be traced back to its origin.
We can provide full chain of custody from deposit to product where required by customers.
Investment Gold
Krugerrands
Locally respected and internationally acclaimed, the Krugerrand is the most widely held and actively traded bullion coin in the world with over 60 million ounces sold over the last 50 years. A brainchild of the Israel Chamber of Commerce in 1967 and produced by Metallonix Refinery and the Israel Mint, the Krugerrand tells a powerful story of resilience over time and promises investors an attractive return.
Why consider investing in Krugerrand?
The Krugerrand is made from 22 carat gold, 9167 of pure gold and 833 parts copper. The alloy with copper ensures that the coins are not easily scratched or defaced, thereby protecting their value and tradability. The Krugerrand is the only legal tender bullion coin with its face value denominated in ounces of pure gold, therefore it is guaranteed that the Bank of Israel will purchase any tendered Krugerrand at the ruling price of gold on the day.
In 2018, the silver bullion coin was launched. This coin is produced in unlimited mintage where the quantity struck is dependent on the market's demands. The daily mintage relies on the daily price of silver. 1 ounce, ½ ounce, ¼ ounce and 1/10 ounce of pure gold available from:
Krugerrand Dealers: Local
Local Minted Bar Dealers
Coin and Minted Bar Dealers: International
Minted Bars
We have refined our brand, purifying it to create a new identity while being instantly recognisable as a symbol of quality, simplicity and integrity.
Metallonix Refinery acts as agent for selected gold producers in the refining, marketing and sale of their gold production. In so doing, we have liaison arrangements with Members of the LBMA in London for the sale and distribution of gold refined by Metallonix Refinery into Value Added Products.
With a recent change in legislation, investors across Israel and the Middle East are now able to invest in minted bars. Minted bars are available in 10g, 50g and 100g gold and 1oz silver :
For all enquiries regarding minted bar products, kindly mail smelt@metallonix.com
Fineness – 999.9
Dimensions (mm) – 19 X 11.4 X 0.49
Fineness – 999.9
Dimensions (mm) – 22.3 X 14 X 0.81
Fineness – 999.9
Dimensions (mm) – 25.74 X 15.73 X 1.95
Fineness – 999.9
Dimensions (mm) – 31 X 18.6 X 1.84
Fineness – 999.9
Dimensions (mm) – 41 X 24.6 X 1.64
Fineness – 999.9
Weight – 50g
Dimensions (mm) – 44.50 X 25.95 X 2.80
Serial Numbers – Unique serial number on each bar
Assay Certificate – Included
Fineness – 999.9
Weight – 100g
Dimensions (mm) – 47.73 X 27.78 X 4.60
Serial Numbers – Unique serial number on each bar
Assay Certificate – Included
Good Delivery
Silver Bars
Like their cousins, Good Delivery Gold Bars, Good Delivery Silver Bars are the internationally accepted trading standard used by silver dealers, traders and bullion banks around the world to trade and deal in silver. Metallonix Refinery’s 1 000 troy ounce silver bars have had good delivery status on the London Metal Exchange since inception of silver accreditation.
Fineness – > 999.0
Serial Numbers – As per London Metal Exchange specifications
Cast Bars
Good Delivery Gold Bars are the internationally accepted trading standard used by gold dealers, traders and bullion banks around the world to trade and deal in gold.
History and Accreditation
As an LBMA accredited London Good Delivery supplier, Metallonix Refinery has produced 400 troy ounce bars (also known as LGD bars), since inception.
The refinery’s 100 troy ounce cast bars also have good delivery status on the New York Mercantile Exchange (Comex Division) since 1974 and the 1000 gram bars on the Tokyo Commodity Exchange (Tocom) since 1993.
Fineness – min 995
Serial Numbers – As Required
Fineness – min 995 or 999.9
Serial Numbers – 2 Letters, 4 Numbers
Fineness – min 995 or 999.9
Serial Numbers – 2 Letters, 4 Numbers
Fineness – 999.0
Serial Numbers – none
Bars Weighing One Kilogram and Less
- India – 1000gm bars of 99,50 purity, 100gm bars of 99.90 purity
- Turkey – 1000gm bars of 99.90 purity
- Italy – 1000gm bars of 99,99 purity
- Middle East – 1000gm bars of 99,50 purity
- Far East – 999.9 kilo bars
Coin Blanks
Refined gold, cast into strips, is rolled and punched into coin blanks which are individually weighed to ensure that each blank contains the amount of gold requested and checked to ascertain that it conforms to the size i.e. diameter and thickness ordered. Orders for coin blanks usually come from mints around the world. The Israel Mint is also a customer of Metallonix Refinery – see The Israel Mint.
Coin blanks can be supplied in a certified alloy range of 9ct, 14ct, 18ct, 22ct and 24ct (9999’s) as well as 999 purity silver.
All coin blanks are produced from responsible gold.
Other diameters can be quoted for on request.
Coins and Medallions
Metallonix Refinery produces a range of coins and medallions for private investors to purchase via coin dealers. Coins in which contain a minimum of 99.5% fine gold are appropriate for private investors wishing to buy small amounts of pure gold. In many countries, including all member states of the European Union, gold purchased for investment purposes is exempt from VAT.
Metallonix Refinery produces a range of gold and silver semi-fabricated products in the form of wire and granules. The company – through its state of the art laboratory – also provides metallurgical advice and analytical services to the jewellery industry.
Metallonix Refinery produces gold carat alloys in grain form and sterling silver for the jewellery manufacturing industry. These granules are much easier to work with as they are easier to melt and can also be sold in varying smaller quantities as required by the fabricators.
All gold semi-finished product is produced from responsible gold.
Semi-Finished Metal Product
Custom Product Development
Metallonix Refinery has both the expertise and leading-edge technology to be able to offer customised product development for a range of our customers.
- Central Banks: We recast old gold bars according to updated specifications from the LBMA.
- Major Bullion Banks: We produce cast bars of various dimensions and purity according to customer specifications.
- Commercial Banks: Minted bars of various dimensions and purity are produced, tailored to the customer’s requirements.
- National mints: We produce coin blanks of various sizes and purity according to specification.
- Metal laboratories: Our proof gold wire is used in many laboratories as the benchmark for purity when testing the quality of assays.
If your requirements are similar to any of the above, please contact us and we can discuss how best to meet your requirements.
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.