The Ministry of Mines Cameroon(Official Website)

The Ministry of Mines Cameroon

Every gold scam in Cameroon is made around the Ministry of Mines Cameroon. It is also known as The Ministry of Mines, Industry and Technological Development(MINMIDT). This is the institution in charge of the elaboration and implementation of the Government’s mining and industrial policy and technological development strategies within the various sectors of the national economy.

It has become very popular over the years but for the wrong reasons. Scammers and fraudsters all over the CEMAC Region are using it to scam gold buyers Millions of dollars. So how does this work and why do people keep falling for it?

Before buying gold from a foreign country, there are certain engagements the buyer must take with the government. This might include; a Visa, business permit and taxes. Anybody buying gold from a foreign country knows they have to get certain documentations from either the Chamber of Commerce or Ministry of Mines. The scammers know this too and so have created websites of the Ministry of Mines and Chamber of commerce.

How the Ministry of Mines Cameroon scam works

Note: The Ministry of Mines does not issue a CEMAC Buyers Permit.

Once you contact a gold scammer online, they give you a very good price sometimes 40% below market value. They tell you all you need is a CEMAC Buyers Permit from the Ministry of Mines. This Permit sometimes costs $4,500 to for 2 years and $7,500 for 5 years. The scammer will now send you the website of the Ministry of Mines Cameroon and ask you to make contact.

On the website, you will be asked to download an application, fill it and then send back to the Ministry of Mines. The Ministry of Mines representative will then send you an Invoice to pay the fee for the Permit. This is the first phase of the scam. A simple research online and you will see that there are more than 10 different Ministry of Mines Cameroon website on the Internet.

The entire gold scam is centered around this format and we are sad because people still fall for this everyday. After getting the fake CEMAC Buyers Permit, you might be asked to pay a Safekeeping Fee for the amount of time the gold has been with the Ministry of Mines. Others will ask you to pay an Insurance fee before the gold can be shipped.

The bottom line is there’s nothing like a CEMAC Buyers Permit. That should be a Red flag if you are in contact with any gold vendor and they bring it up.

The document you need is not a CEMAC Buyers permit but the CEMAC Gold Process Certification Scheme (CGPCS) issued by the CEMAC Gold Council. This is similar to the Kimberly Certificate. It will be issued by the government of the exporting country through the CEMAC Gold Council.

Every buyer is expected to have this document before they can carry out any business in the CEMAC zone. You can go to their website www.cemacgoldcouncil.org to download the application form and register.

After the registration you will be contacted and once you pay the fee, the certificate will be issued. With this certificate you can trade for life in the CEMAC Zone.

Which is the real website

The Ministry of Mines Cameroon has nothing to do with gold deals. If you are in contact with a gold vendor, you can do business without involving the Ministry of Mines. At the moment there’s no known Ministry of Mines Cameroon website. All the websites you see online are owned by scammers and fraudsters.

If you are looking to see if a vendor is legit or not, run it by us and we will get back with answers.

How the Gold trade is done

This business involves a lot of money hence the risk too is equally high. It will depend on what you agree with the vendor. Some will ask you for an advance payment while others won’t. The success of the deal will depend on the agreement between the gold vendor and the buyer.

Most vendors ask for advance payment for logistics from the mines to the city and also to pay taxes. They cannot export the gold without paying taxes hence some will need an advance to cover these costs. The buyer should therefore be prepared to pay an advance.

We always advice you start small and then grow into the business. This will help you minimize the risks and also give you enough time to learn before making that big purchase.

Gold Bullion Reviews is here to help you meet real gold vendors and get the best deals possible. Send inquiries today and buy Gold online in Africa.