African Minerals offers you a full list of services you will require to complete your transaction.
African Minerals Services
We source Gold from a list of well-known sellers.
We negotiate the terms of the sale on your behalf.
The sale is structured perfectly to the satisfaction of both parties.
Testing is done to authenticate the Gold has the required purity.
The Gold is smelted from nuggets into bars.
We apply for the export documents from the ministry.
We arrange the logistics for all parties and the gold.
Final ASSAY will take place in Dubai to determine the purity of closing the sale.
Payment is made to the Seller upon receipt of the final ASSAY report.
Proof of ownership is transferred upon the seller receiving the payment.
We arrange airport shuttles for buyer from airport to Hotel and return trip.
We make bookings for the buyer at hotels or apartments based on buyer preference.
X-Works means that the gold is sold in the country of origin. For example; if the gold is offered in Uganda then the sale is concluded there. The buyer and seller will meet at a mutually agreed-upon place. The buyer brings his cash and the seller brings his gold. The buyer tests the gold and if satisfactory the buyer pays the seller. Seller signs over ownership to the buyer.
The seller then has the gold smelted into bars and applies for his export documents. The Gold is then taken to the buyer’s destination. This is always the best way to buy gold and carries the least amount of risk.
CIF Dubai means that the sale of the gold is concluded in Dubai and the seller pays his own cost to get the gold there. However, it never works that way in reality. The seller will expect the buyer to pay for the export cost of raising the export documents and transport of the gold to Dubai.
This, according to the seller is for the buyer to show his commitment but 99% of the time the buyer will get scammed. This method is the riskiest. However, African Minerals has ways to structure these deals so that the buyer is not at risk.
Before a buyer can consider transacting in Gold he must have the following first:
This entails funds: (a) to pay for the transactional cost (b) agency fee (c) taxes and export documentation and (d) to pay for the gold after final ASSAY. If the buyer cannot prove that he has these funds then we will not entertain the buyer. The minimum gold that can be purchased as a trial is 23kg. In this regard the buyer must have approximately USD 1 248 889.00 depending on the price of the gold. If the buyer is only paying for transactional cost, export cost, logistics and the buyer is selling the gold in Dubai then the buyer bank and the company who is purchasing in Dubai must belong to the same bank as funds needs to be immediately available to pay the seller upon receipt of the final ASSAY. In this regard the buyer will still need to have at least USD 250 000 available.
The gold can be transported in two ways; (a) either by hand carrying it on your flight to Dubai or (b) using Emirates Sky Cargo. We recommend hand carrying the Gold as this is the safest and the gold never leaves your sight. You will have to travel business class with Emirates as you are allowed 14kg hand luggage. If you are carrying more than 14kg then two people should carry a potion each so that you comply with regulations.
Our fees are charged based on how your deal is structured. We will provide you with our fee structure after we have determined the nature of the deal.