INDUSTRY FOCUS: MANUFACTURING

//Fine, precious metal is etched in the history of Gauteng. The reason the region is the powerhouse it is today is because of gold. Johannesburg, the City of Gold, sits on the edge of the largest gold deposit in the world. Pretoria is home to some of the richest silver deposits around. And South Africa is well-known for its history in other metals including copper and iron ore.

From these industries comes essential products for life, and items of opulence – jewellery and display pieces that are expensive and sought after around the world. Mining, and foreign earnings from South Africa’s mineral resources, accounted for 38% of export value in 2019. Historically powered by the country’s other extensive resource – coal – mining of precious metals has put the country on the world map.

Now, in a green energy transition, and a move towards battery and storage projects, new metals are at the forefront of a fresh push. In particular, platinum group metals (PGMs)platinum, palladium, ruthenium, osmium, rhodium, iridium – in which South Africa holds more than 80% of known deposits, are being mined around Rustenburg to the delight of auto, aero, and jewellery makers.

Precious metals and their route from earth to end user are complex. Many work on the process to extract, process, manufacture, and retail, and the industry supports many jobs in South Africa and around the world.

One growing business is Precious Metals Tswane – a refinery and manufacturing business based in Centurion. Independent and focused on refining metals to their purest form, the company is an expert in gold and silver, and is expanding in PGMs. Also a manufacturer of jewellery and a dealer of gemstones, Precious Metals Tswane has a wide knowledge base around turning rough material pulled from the ground into a highly prized asset.

Young Refinery

This year, the company celebrates its fifth anniversary, and head of finance, Pieter Wiese, tells Enterprise Africa more about the company’s diverse journey.

“We get metals from carefully selected partner mines who extract from the ground and complete a certain level of processing. We then process further and sell as coins or bars to central banks or similar, or sell on to turn into jewellery or other products for specific demands,” he says.

Key products include refined gold and silver, separated PGMs, alloys, fine jewellery, diamonds, and associated services including goldsmithing and setting.

“We work with small and mediumsized mines and we deal with a wide range of clients because we refine and manufacture,” says Wiese, adding that the company also buys from registered bulk scrap metal dealers.

“We are a young refinery, but we have four lines of business – receiving precious metals and refining; jewellery design and manufacturing (we manufacture to order, we don’t want to make things and hope people buy them); manufacture of alloys (around 15 types of alloy); and gemstone supply.”

In the exciting jewellery space, Precious Metals Tswane is riding a wave of new demand in the local market. An affluent young population is still attracted to gold, and, in 2019, 51% of gold demand was from the jewellery