Glossary
Gold & diamond trading terms, explained
Plain-English definitions of the terms you'll meet when buying gold or diamonds from Cameroon — so nothing in a quote or contract is a surprise.
- LBMA / London spot price
- The global benchmark price for gold and silver set in London. Physical gold is priced from this live rate — shown on our site.
- XAU / XAG
- Market symbols for one troy ounce of gold (XAU) and silver (XAG).
- Doré
- Semi-pure gold bars cast at or near the mine (typically ~85–92% gold), later refined to higher purity.
- Gold dust
- Fine alluvial gold recovered by washing ore; sold by weight and refined into bars.
- Fineness / karat
- The purity of gold. Fineness is parts per 1000 (999.9 = 99.99% pure); 24 karat = pure gold.
- Assay
- The test that measures a metal's exact purity. Every lot we sell is weighed and assayed, with documents.
- Kimberley Process
- The international certification scheme that keeps conflict diamonds out of the legitimate trade; rough diamonds export under it.
- OECD due diligence
- Responsible-sourcing guidance for minerals — supply-chain checks and conflict-free sourcing.
- KYC (Know Your Customer)
- Identity and source-of-funds checks. We use two-way KYC: we verify you, you verify us.
- Escrow
- A neutral third party holds payment and releases it against agreed documents — so neither side carries all the risk.
- FOB / CIF (Incoterms)
- Shipping terms. FOB Douala: the buyer takes over at the port of loading. CIF: the seller covers cost, insurance and freight to destination.
- Certificate of origin
- An official document stating where the gold was produced — required for lawful, declared export.
- NIU
- Cameroon's unique taxpayer ID. Ours is M022317992613L, verifiable with the tax authority.
- MINMIDT / SONAMINES
- Cameroon's Ministry of Mines (MINMIDT) and the state mining company (SONAMINES) that oversee and channel declared gold export.