Gold and precious metals · London and Africa
Gold bought where it is mined. Paid for from London.
We buy from licensed producers in eight African markets, price every lot against the London benchmark and settle on assay. Trading first, then the mining and exploration that feed it.
Eight markets · one desk
EquirectangularPricing
LBMA Gold Price, twice daily
Assay
Fire assay, split sample, umpire
Settlement
On assay, USD or local
Counterparties
Licensed only
01What we do
Three lines of business, one chain of custody.
Trading is the core. Mining and exploration extend it upstream so more of what we sell in London is metal we helped bring out of the ground.
- 01Trading
Gold trading
We buy doré and refined gold from licensed producers in eight African markets, price it against the LBMA Gold Price and pay on assay.
How we buy gold - 02Mining
Mining
Small and mid-scale gold mining with local licence holders. Our capital and management, their ground, the metal sold to us under offtake.
Mining partnerships - 03Exploration
Exploration
Staged gold exploration on greenstone and Birimian ground with African licence holders, from stream sediments to the drill rig.
Exploration earn-ins
02Where we buy
Eight markets. One way of working.
Each has its own geology, regulator and rhythm. Who we buy from, how we price and when we pay do not change between them.
| No. | Market | Hub | Activity | Metal | Open |
|---|---|---|---|---|---|
| 01 | Democratic Republic of the Congo | Kinshasa | Trading, Mining, Exploration | Gold, Doré | |
| 02 | Uganda | Kampala | Trading, Mining | Gold, Refined bars, Doré | |
| 03 | Kenya | Nairobi | Trading, Exploration | Gold, Doré | |
| 04 | Gabon | Libreville | Trading, Exploration | Gold, Doré | |
| 05 | South Africa | Johannesburg | Trading, Mining | Gold, Platinum group metals, Silver | |
| 06 | Guinea | Conakry | Trading, Mining, Exploration | Gold, Doré | |
| 07 | Sudan | Khartoum and Port Sudan | Trading | Gold, Doré | |
| 08 | South Sudan | Juba | Trading, Exploration | Gold, Doré |
03How a lot moves
Five steps from the pit to the bank.
The same in every market. Only the paperwork changes.
- 01
Onboarding
Licence, identity and ownership checks, sanctions screening and a look at the site.
- 02
Weighing and sampling
With the seller present. XRF on the spot, then the sample is melted and split three ways.
- 03
Assay and price
Fire assay at an accredited laboratory. Priced against the LBMA Gold Price on the agreed formula.
- 04
Paperwork and export
Permit, royalty, certificate of origin and regional certificate filed by our in-country team.
- 05
Settlement
Dollars or local currency to the seller's bank on assay confirmation.
04Pricing
A number nobody in the room controls.
Every lot is priced against the LBMA Gold Price with a discount for purity, refining and the route. The formula is written down before the metal is weighed.
Worked example
| Line | What it is | Example |
|---|---|---|
| Reference | LBMA Gold Price, PM auction | USD 2,914.30 / oz t |
| Gross weight | Weighed with the seller present | 2,418.60 g |
| Fineness | Fire assay, accredited laboratory | 0.9162 |
| Fine gold | Gross × fineness | 2,215.92 g · 71.24 oz t |
| Refining | Refinery charge to good delivery | 0.35% |
| Route | Secure transport, permits, insured freight | Disclosed per market |
| Net payable | Settled on assay in USD or local currency | USD 201,486 |
Illustrative figures. Every real ticket is checked against the published benchmark.
Fire assay
| Element | Name | ‰ |
|---|---|---|
| Au | Gold | 916.2 |
| Ag | Silver | 68.4 |
| Cu | Copper | 12.1 |
| — | Other | 3.3 |
Fineness
0.9162
Method
Cupellation, gravimetric. Split sample held by the seller.
05Why the name
An accord is an agreement. In this trade the agreement is everything.
Metal is metal. What tells one supplier from the next is whether the commitments behind it hold. Terms agreed in advance, in writing, and honoured on the day. That is what we ask of our partners and what they may ask of us.
About the house- 01
Licensed only
Registered cooperatives, licensed comptoirs and dealers, accredited refiners. Nobody else.
- 02
OECD five steps
Annex II risk assessment on every supplier, including in conflict-affected areas.
- 03
A file per lot
Licences, assay, permits and certificates, kept for the refinery and the auditor.
- 04
Assay you can dispute
Split sample held by the seller. A sealed third sample for an umpire.
- 01Sourcing
· 1 min read
Six things a producer should expect from a gold buyer
What a licensed producer in Africa is entitled to from an international buyer, from a price they can check to a buyer who turns up.
Read - 02Operations
· 1 min read
The paperwork a serious buyer will ask for
A working checklist of the licences, certificates and records involved in a lawful gold export from Uganda, Kenya, the DRC and South Sudan.
Read - 03Compliance
· 2 min read
The OECD five steps, and what they look like on the ground
How the OECD guidance, ICGLR certification and the LBMA's refinery rules fit together, and what a buyer in the Great Lakes actually has to do.
Read
01Who do you buy from?
Licensed producers, registered cooperatives, licensed dealers and in-country refiners in the eight markets where we operate. Never from individuals and never from undocumented sources.
02How do you price gold?
Against the LBMA Gold Price, less a discount for assayed purity, refining and the route. The formula is written down before any metal is weighed so you can check it against the published benchmark.
03How fast do you pay?
On assay confirmation, usually within days of the metal reaching us. Established partners can be part-paid on delivery.
04Is there a minimum?
A few hundred grams. Terms improve with steady monthly volume, and producers who can commit to a schedule can sell forward.
05Which countries are you in?
The DRC, Uganda, Kenya, Gabon, South Africa, Guinea, Sudan and South Sudan, with the head office and market access in London.
Get in touch
desk@miningaccord.com
08.30 to 18.00 GMT
Talk to the desk.
Tell us what you hold, where it is and how you sell it today. A trader replies, not a form.