Is it legal to buy raw gold in South africa?

Question

Is it legal to buy raw gold in South Africa? I see someone is selling it on Facebook and I want to make a ring for myself.

Answer 1

If you have a license, it is legal. See the Precious Metals Act, 2005 in particular §4 which says that

no person may acquire, possess or dispose of, either as principal or as agent, any unwrought precious metal, unless (a) he or she is the holder of a refining licence and acts in accordance with the terms and conditions of his or her licence; (b) he or she is an authorised dealer; (c) he or she is a producer who has won or recovered such unwrought precious metal; (4 he or she has obtained a certificate from the Regulator authorising him or her to acquire or to dispose of such unwrought precious metal; (e) such unwrought precious metal does not exceed a prescribed mass and is acquired in accordance with a special permit issued by the Regulator for scientific or beneficiation purposes or to make jewellery; or he or she is the holder of a precious metal beneficiation licence and acts in accordance with the terms and conditions of his or her licence

Subsection (e) still requires a permit or license.