Krugerrand dealers no longer required to be members of association
TERMS OF AGREEMENT In terms of the agreement, Rand Refinery has undertaken to remove all clauses, in relation to the requirement, from its application forms as well as its website
Photo by South African Mint
The Competition Commission and precious metal smelting and refining complex Rand Refinery have agreed that those dealing in Krugerrands no longer have to be members of the South African Association of Numismatic Dealers (SAAND).
The agreement follows an investigation by the commission into allegations that Rand Refinery makes it a condition for anyone who wishes to be appointed as a bullion Krugerrand dealer to be a member of the SAAND, which is a voluntary association in the South African numismatic industry.
In terms of the agreement, Rand Refinery has undertaken to remove all clauses in relation to the requirement from its application forms, as well as its website.
The agreement has been filed with the Competition Tribunal for confirmation as an order by the tribunal.
The commission’s investigation found that the requirement for SAAND membership could be used to raise entry barriers into the local numismatic industry.
Rand Refinery and the South African Mint jointly manage the business of bullion Krugerrand through an incorporated joint venture, Prestige Bullion.
Rand Refinery has, therefore, been tasked by Prestige Bullion to manage the sales and marketing of bullion Krugerrand in South Africa and abroad. To this end, Rand Refinery is the sole supplier of bullion Krugerrand to primary dealers locally and abroad.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...
VISIT SHOWROOM
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
