Knowledge Centre
Minerals Glossary
Plain-language definitions of terms frequently used in mineral transactions. Definitions are general and may be applied differently in specific contracts or jurisdictions.
- Alluvial Gold
- Gold recovered from river or stream deposits rather than directly from hard rock.
- Assay
- A laboratory analysis that determines the composition of a sample, such as its metal content.
- Bullion
- Precious metal in bulk form, such as bars or ingots, typically valued by weight and purity.
- Carat (Gemstones)
- A unit of weight for gemstones, equal to 0.2 grams.
- Chain of Custody
- The documented sequence of parties and handling steps a material passes through from source to buyer.
- Concentrate
- Ore that has been processed to increase the proportion of the valuable mineral.
- Due Diligence
- The checks a party carries out to assess the legitimacy, risks and suitability of a proposed transaction.
- Fineness
- The proportion of pure metal in an item, often expressed in parts per thousand.
- Karat (Gold)
- A measure of gold purity, where 24 karat represents pure gold.
- Ore
- Naturally occurring rock or sediment containing minerals that may be extracted.
- Refining
- Processing that removes impurities from a metal to increase its purity.
- Troy Ounce
- The standard unit of weight for precious metals, equal to about 31.1 grams.
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