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Precious Metals Act, 2005 (Act No. 37 of 2005)

Precious Metals Regulations

Annexure B

 

 

1. Transitional arrangements

Any person who at the commencement of the Act undertakes any activity for which a licence, permit or approval is required in terms of the Act, but for which activity no authorization was required under the Mining Rights Act, 1967 (Act 20 of 1967), may continue with that activity for a period of 60 days after the commencement of the Act or until any application for a licence, permit or approval that has been lodged under the Act within such 60 days has been processed to finality.

 

2. Table 1
a) Mass, size and purity; general appearance and finish; required identifying marks; registration numbers; and the mode of manufacture of minted bars shall be as set out in the Table below:

 

Mode of manufacture

A minted bar is made from a precious metal blank (bar) that has been stamped/punched out to the required dimensions from a flat strip of precious metal with a purity of at least 99,990/0. The punched out bar is then minted in a purpose-designed minting press.

Mass

10, 50, or 100 grams

Dimensions

Dimensions of minted bars will be published by notice in the Gazette

Precious metal content

>99,99% purity (> 999,9 fineness).

Required identifying marks

The following identifying marks must be stamped on the minted bar:

i) A hallmark certifying the abovementioned purity;
ii) a dated letter of the year of manufacture (letter starting alphabetically with "A" for 2006); and
iii) a registered trademark of the approved manufacturer.

Alphanumerical registration number

A unique registration number (including the initials of the approved manufacturer and a six digit serial number) must be stamped on the minted bar.

General appearance and finish

A minted bar should appear polished, i.e. possess a smooth finish and have no cavities.

Table 1

b)

Denominations of precious metal bars

Standard mass(gram)

Standard fineness based on minimum mass

Gold-minted bar

10 g

999,9

Gold-minted bar

50 g

999,9

Gold-minted bar

100 g

999,9

Platinum

1 Troy ounce

999,5

Palladium bar

1 Troy ounce

999,5

 

[Table 1(b) inserted by regulation 13 of Notice No. R.387 dated 4 April 2008]

 

3.        Table 2

CARAT GOLD SCALE

 

Carat

Minimum purity of gold expressed as a percentage

Minimum fineness(gold content expressed in parts per 1 000)

9

37,5%

375

14

58,5%

585

18

75,0%

750

22

91,6%

916

24

99,5%

995

 

 

4.        Table 3

PLATINUM AND PALLADIUM SCALE

 

Minimum purity of platinum/palladium content expressed as a percentage

Minimum fineness of platinum/palladium content expressed in parts per 1 000

85%

850

90%

900

95%

950

99,9%

999