Guide: Buying and Exporting Precious Metal Ore From South Africa

Precious metals such as gold, platinum and palladium are more than just shiny rocks. They’re also a hot asset class to invest in right now. South Africa is the third-largest producer of gold ore in the world, trailing only China and Australia. And as home to 35% of the world’s known platinum resources, South Africa is also a top producer of this precious metal. Taking advantage of these factors will let you purchase and export precious metal ore from South Africa at favorable prices with less effort than most other miners would have to put in. In this article, we’ll give you all the information you need to get started buying and exporting ore from South Africa successfully…

What is Precious Metal Ore?

Precious metal ore is a mineral that contains a high percentage of one or more precious metals, usually gold, platinum, or palladium. It can be mined and processed to extract the metals, or it can be bought in processed form as a by-product of mining other ores. Most gold ore and platinum ore is mined and processed to extract the metals, but some mines produce these ores as by-products of mining other minerals. The price of these by-product ores can change with the price of the main precious metals, making them an interesting investment. Naturally, the grade of the ore, or the percentage of metal it contains, also has an impact on its price. Many mines produce a range of different ores, so you may be able to find a supplier that can let you buy the exact amount you need.

How to Import Precious Metal Ore From South Africa?

Importing precious metal ore from South Africa is fairly straightforward, provided that you know the right process to follow. You’ll need to get the ore verified by an accredited laboratory, arrange transport, and obtain a Precious Metals Control Council (PMCC) clearance certificate. First, you’ll need to get your ore verified. You can get this done at any of the accredited laboratories in South Africa that specialize in precious metal ore. You’ll need to provide them with details of the samples of ore that you want verified, including the quantity and quality. Once the samples have been verified and results issued, you can go ahead and arrange transport. Keep in mind that the ore will have to be transported by sea, which will make it more expensive. Next, you’ll need to obtain a PMCC clearance certificate. This certificate will be issued by the South African Revenue Service (SARS) once the ore has been verified. You’ll then need to present it to the country where you plan to import the ore, which will let you make your shipment.

Exporting Platinum From South Africa

For most people, platinum is the most lucrative of the three precious metals that are mined in South Africa. Platinum prices are currently sitting at $1,305 per troy ounce. This makes platinum over 400% more expensive than gold, which also makes it a much more profitable investment. It should be noted that platinum is also more difficult to produce than other metals like gold. It also tends to be found in smaller quantities. As a result, platinum is generally a little more expensive than gold, although not by much (currently about $90 per troy ounce more). You’ll need to go through a platinum broker to export platinum from South Africa. Platinum brokers have direct relationships with buyers and can get your shipment sold at a favorable price. You will have to make sure you obtain an export permit before you arrange the shipment.

Exporting Gold From South Africa

Gold is another extremely valuable metal that is mined in South Africa. Currently priced at $1,375 per troy ounce, gold is almost as expensive as platinum. As with platinum, you’ll need to go through a gold broker to export gold from South Africa. They can get you a good price for your gold shipment, and you may even be able to sell it with no upfront payment. You’ll need to make sure that you obtain an export permit before you arrange the shipment.

Exporting Palladium From South Africa

Like platinum, palladium is a more difficult metal to produce than gold. As a result, it’s generally a little more expensive than gold. Currently, palladium has a price of $1,700 per troy ounce. Like platinum, you’ll need to go through a palladium broker to export it from South Africa. You’ll need to obtain an export permit before arranging the shipment. Also, you’ll need to make sure your supplier has a valid trade account with Mastercard.

Final Words

Precious metal ores are an excellent way to invest in precious metals without having to go through the process of mining them yourself. You’ll be able to get the same prices as miners and produce a steady income. Precious metal ore is usually mined, processed, and sold by the same company. As a result, selling your ore is almost as easy as buying it. You can also cash in on the fact that South Africa is the third-largest producer of these ores in the world.