African Gold Bar Prices: How Much Does Gold Cost in Africa Today? 2026 Guide

African gold bar prices currently range from $58 to $108 per gram depending on the country, purity level, and whether you are buying raw gold, semi-refined doré, or fully refined investment-grade gold bars.

In source countries like Uganda, Ghana, the Democratic Republic of Congo, Tanzania, and Mali, gold bars and nuggets trade at 5–20% below the international LBMA spot price — making Africa the most cost-competitive continent in the world for direct gold acquisition by international buyers, refineries, jewellery manufacturers, and bullion investors.

This guide covers current African gold bar prices by country, how African gold prices compare to Dubai, London, and global spot rates, what drives price differences between African nations, and everything buyers need to know to source gold from Africa at the most competitive price available.


Today’s African Gold Bar Price: Live Reference Table

Before diving into country-by-country analysis, here is a consolidated reference table for current African gold prices across product types. All figures are based on current LBMA spot rates and dealer quotes from active African gold markets:

Gold Product TypePurityPrice Per Gram (USD)Discount vs LBMA Spot
Refined 24K Gold Bars (investment grade)99.5%+$103–$1080–3% below spot
Semi-Refined Gold Bars / Doré Bars85–95%$88–$985–10% below spot
Natural Gold Nuggets (22K–24K)91–98%$70–$9010–20% below spot
Raw Gold Dust / Alluvial Gold85–92%$58–$8015–25% below spot
Gold Ore (unprocessed, variable)40–70%$35–$6030–45% below spot

Prices are negotiable for bulk orders above 10 kg. Contact licensed African gold exporters directly for real-time quotations tied to the current LBMA fixing price.


What Determines African Gold Bar Prices?

Understanding what drives gold prices in Africa — and why they differ so significantly from prices in Dubai, London, or New York — is essential for any buyer evaluating the true value of an African gold purchase.

The LBMA Spot Price: The Global Baseline

Every gold price in the world — including African gold bar prices — starts with the London Bullion Market Association (LBMA) spot price, which is set twice daily during London trading hours and represents the benchmark price for a troy ounce of 99.5% pure gold for immediate delivery.

When African gold dealers quote prices, they express them as a percentage above or below the LBMA spot — the gap between their quote and spot is the “premium” or “discount” that reflects local market conditions.

Purity and Processing Stage

The most significant driver of African gold price variation is the processing stage at which the gold is sold. Raw alluvial gold dust straight from a riverbed in Uganda carries significant impurities that reduce its effective gold content and require refining before it meets investment-grade standards — hence its price sits 15–25% below spot.

A fully refined 24K gold bar meeting LBMA Good Delivery specifications commands nearly full spot price because it requires no further processing and is immediately tradeable in any international market.

Between these extremes, semi-refined doré bars — the intermediate product produced by many African small-scale and artisanal miners — typically trade at 5–15% below spot depending on their gold content, which varies from 60% to 95% depending on the source region and processing method applied.

Supply Chain Length and Middlemen

The fewer hands gold passes through between the mine and the international buyer, the closer to spot price the buyer can access it. A gold bar purchased directly from a licensed exporter with a direct miner relationship in Uganda costs less per gram than the same gold purchased through a Dubai trading house that bought it from a Ugandan exporter — because the Dubai dealer has added their own margin.

This is the fundamental economic argument for sourcing African gold directly: buyers who can access the first export link in the supply chain — a licensed African gold exporter working directly with miners — pay the lowest possible price for a given purity level.

Export Taxes and Royalties by Country

Every African gold-producing country levies some combination of mineral royalties, export duties, and certification fees on gold that leaves its borders. These costs are real and are factored into the prices quoted by licensed exporters. Countries with higher royalty rates — or where compliance costs are higher due to stricter certification requirements — produce slightly higher effective export prices than countries with lower regulatory cost burdens.

Ghana’s 3% mineral royalty, Uganda’s export levies, and DRC’s 3.5% royalty plus CEEC certification fees all feed into the final price international buyers pay. Understanding these costs allows buyers to evaluate whether a quoted price is genuinely competitive or whether it is concealing unusually high middleman margins.

Currency Exchange Rates and Local Inflation

In most African gold-producing countries, gold is priced and traded in US dollars at the international level — but domestic operational costs (labour, fuel, equipment, local permits) are paid in local currencies.

When local currencies depreciate against the dollar — which happens frequently in countries like Uganda, DRC, and Ghana — the effective dollar cost of production falls, potentially allowing exporters to offer marginally more competitive dollar prices without reducing their local currency margin.

Currency volatility also introduces timing risk for buyers who agree prices in advance but take delivery weeks later. For large transactions, tying the purchase price to the LBMA spot on the date of delivery — rather than the date of agreement — is the standard risk management approach.

Where to Buy Gold in Africa


African Gold Bar Prices by Country: Detailed Breakdown

Gold Bar Prices in Uganda

Uganda is one of the most cost-competitive African gold markets for international buyers, particularly for natural gold nuggets and semi-refined gold bars sourced from its domestic mining regions and through legitimate imports from DRC and South Sudan.

Current Uganda gold prices per gram (2025):

ProductPurityPrice Per Gram (USD)
Refined 24K Gold Bars99.5%+$103–$106
Gold Nuggets (22K–24K)91–98%$72–$88
Gold Dust / Alluvial Gold85–92%$60–$78
Semi-Refined Doré Bars80–90%$65–$82

Uganda’s price advantage comes from its position as East Africa’s primary informal gold trading hub, where supply from DRC’s Ituri, North Kivu, and South Kivu provinces converges with domestic Karamoja and Busia region production. The concentration of supply and the competitive dealer network in Kampala keeps margins thin for buyers who know how to navigate the market correctly.

Buyers purchasing gold bars in Uganda at bulk quantities — 10 kg and above — can typically negotiate prices at the lower end of the range above. Transactions above 50 kg attract further volume discounts from established licensed exporters.

The critical caveat for Uganda: the country’s gold market also has one of the highest concentrations of fraudulent operators in East Africa. Price competitiveness must always be evaluated alongside rigorous supplier verification through Uganda’s Directorate of Geological Survey and Mines (DGSM). Prices that appear significantly below the ranges above are almost certainly indicative of fake gold or advance fee fraud, not genuine market competitiveness.

Gold Bar Prices in Ghana

Ghana’s gold market produces some of Africa’s most credibly documented and internationally accepted gold, backed by PMMC (Precious Minerals Marketing Company) assay certification that is recognised by refineries and institutional buyers worldwide.

Current Ghana gold prices per gram (2025):

ProductPurityPrice Per Gram (USD)
Refined 24K Gold Bars (large-scale mines)99.5%+$105–$108
PMMC-Certified Gold Nuggets91–96%$78–$94
Artisanal Gold Dust (ASM sector)85–92%$65–$80
Semi-Refined Doré Bars80–92%$68–$85

Ghana gold commands a slight premium over comparable Ugandan or DRC product because of its stronger provenance documentation, lower conflict-mineral risk classification, and the institutional credibility of PMMC certification in international markets. For buyers who need gold that will pass stringent due diligence in EU, USA, or UAE markets without additional compliance challenges, Ghana’s documentation premium is a genuine value-add rather than simple price inflation.

Ghana also offers access to large-scale mine output — from operators like Newmont and Gold Fields — that meets LBMA Good Delivery specifications without further refining. This refined 24K gold is priced very close to international spot but comes with the highest documentation quality available in Africa.

Gold Bar Prices in the Democratic Republic of Congo

The DRC holds some of Africa’s most significant gold deposits, and prices for natural gold nuggets and alluvial gold from Ituri, North Kivu, and South Kivu provinces are among the most competitive on the continent — reflecting both the raw material discount for unrefined gold and the additional compliance costs that DRC-origin gold requires.

Current DRC Congo gold prices per gram (2025):

ProductPurityPrice Per Gram (USD)
Gold Nuggets (Ituri, North Kivu)90–98%$70–$83
Alluvial Gold Dust85–92%$58–$75
Semi-Refined Doré75–88%$55–$72
CEEC-Certified Export Gold91–98%$75–$88

DRC gold is the most price-competitive in Africa for buyers who can manage the additional compliance requirements — CEEC (Centre d’Expertise, d’Évaluation et de Certification) assay certification, ICGLR (International Conference on the Great Lakes Region) conflict-free traceability tags, and for eastern DRC provinces, UN and Interpol clearance documentation.

For buyers whose destination markets require stringent conflict-mineral due diligence — EU importers subject to the EU Conflict Minerals Regulation, US companies covered by Dodd-Frank Section 1502, or UAE refineries with DMCC compliance requirements — the additional documentation cost for DRC gold is offset by its lower base price relative to comparable Ghanaian or Tanzanian product.

Ituri Province gold in particular — from Bunia, Mongbwalu, and Djugu — consistently tests at 94–98% purity, making it among the highest-purity natural gold available in Africa at competitive prices.

Gold Bar Prices in Tanzania

Tanzania is one of Africa’s most stable and institutionally developed gold export markets, combining significant artisanal output from lake zone mining regions with large-scale industrial production from the Geita Gold Mine (AngloGold Ashanti) and Bulyanhulu.

Current Tanzania gold prices per gram (2025):

ProductPurityPrice Per Gram (USD)
Refined 24K Gold Bars99.5%+$104–$107
Natural Gold Nuggets (ASM)88–95%$75–$90
Gold Dust (artisanal)82–90%$62–$78
Doré Bars80–90%$65–$80

Tanzania’s gold prices sit slightly above Uganda and DRC but below or comparable to Ghana, reflecting the country’s stable political environment, established export trade routes, and Tanzania Minerals Audit Agency (TMAA) certification that carries strong institutional credibility.

For buyers seeking East African gold with reliable documentation and moderate compliance complexity, Tanzania represents an attractive middle ground between Uganda’s price competitiveness and Ghana’s documentation quality.

Gold Bar Prices in Mali

Mali is one of West Africa’s largest gold producers by volume, with significant output from both large-scale operations and artisanal mining communities in the Kayes, Koulikoro, and Sikasso regions.

Current Mali gold prices per gram (2025):

ProductPurityPrice Per Gram (USD)
Refined Gold Bars (large-scale)99.5%+$103–$107
Artisanal Gold Nuggets88–94%$72–$86
Gold Dust80–90%$60–$76

Mali gold prices are competitive, particularly for high-volume buyers accessing the formal export sector. Security conditions in parts of Mali have affected some artisanal supply chains, making buyer due diligence on source region more important than in more stable markets.

Gold from southern Mali’s established mining zones carries significantly lower risk than product claimed to originate from areas affected by regional instability.

Gold Bar Prices in South Africa

South Africa occupies a unique position in Africa’s gold market. Once the world’s largest gold producer, South Africa’s deep-level mining industry produces refined gold of the highest international standard — but at production costs that are among the highest in Africa, removing the price advantage that makes other African gold markets attractive to cost-conscious buyers.

Current South Africa gold prices per gram (2025):

ProductPurityPrice Per Gram (USD)
Rand Refinery 24K Gold Bars99.99%$105–$108
Krugerrand Gold Coins (1 oz)91.67% (22K)$110–$115
Small Gold Bars (1g–100g)99.9%+$106–$112

South African gold — particularly Rand Refinery bars and Krugerrand coins — trades at or slightly above international spot because of its brand premium and universal liquidity. The Rand Refinery is an LBMA-accredited Good Delivery refinery, meaning its bars are accepted without further testing by central banks, bullion banks, and major commodity exchanges globally.

Buyers who prioritise liquidity and instant credibility over price competitiveness find South African gold products consistently attractive.


African Gold Prices vs. Global Markets: Complete Comparison

One of the most compelling reasons to source gold directly from Africa is the price advantage compared to purchasing refined gold from established Western or Middle Eastern markets. Here is a comprehensive comparison:

MarketTypical Premium Over LBMA SpotNotes
Direct from African miners (Uganda, DRC)10–20% BELOW spotRaw/unrefined; requires processing
African licensed exporters (semi-refined)5–10% below spotDoré bars; some processing needed
African licensed exporters (refined 24K)0–3% below spotInvestment grade, ready to trade
Hong Kong dealers1–3% above spotZero import duty; refined bars
Singapore dealers2–4% above spotZero GST; LBMA bars
Dubai Gold Souk4–6% above spotTax-free; LBMA bars
USA bullion dealers5–8% above spotPlus state sales tax some states
UK Royal Mint4–7% above spotVAT-exempt on investment gold
India12–15% above spot10% import duty + 3% GST
Germany/Europe5–10% above spotVAT-exempt on bars

The price gap between buying gold directly from a licensed African exporter and purchasing equivalent refined gold from a Dubai dealer or London bullion house is 5–25% depending on the processing stage of the African gold.

For a 10 kg purchase at current prices, that gap represents $5,000–$25,000 in direct savings — which is why serious institutional buyers, refineries, and high-net-worth investors increasingly build direct African sourcing relationships rather than purchasing through intermediary markets.


African Gold Price Per Gram vs. Per Troy Ounce: Quick Conversion Reference

International gold markets price gold in troy ounces (31.1035 grams), but many African dealers quote in grams. Here is a quick conversion reference at current approximate prices:

Measurement24K Refined22K Gold NuggetsRaw Gold Dust
Per gram$105–$108$78–$90$58–$78
Per troy ounce (31.1g)$3,266–$3,359$2,426–$2,799$1,804–$2,426
Per kilogram (1,000g)$105,000–$108,000$78,000–$90,000$58,000–$78,000
Per 10 kg$1.05M–$1.08M$780,000–$900,000$580,000–$780,000

These figures illustrate why even a 5% price improvement through direct African sourcing represents very significant absolute dollar savings at commercial purchase volumes.


How African Gold Bar Prices Are Quoted and Negotiated

Understanding how African gold dealers structure their pricing helps buyers negotiate effectively and evaluate whether a quoted price is genuinely competitive.

Spot-Plus or Spot-Minus Pricing

The most transparent pricing structure used by legitimate African gold exporters ties the purchase price to the LBMA spot price on a specific date — typically the date of PMMC or DGSM assay completion — plus or minus a fixed percentage representing the dealer’s margin and applicable export costs.

For example: “22K gold nuggets at LBMA spot minus 12%, fixed on the date of assay certification.” This structure eliminates ambiguity about whether the buyer is getting a competitive rate, because the reference point (LBMA spot) is publicly verifiable.

Fixed Per-Gram Pricing

Some African gold dealers quote a fixed dollar price per gram, particularly for smaller transactions or established buyer relationships where the trade is frequent enough to make spot-referencing impractical.

Fixed prices are acceptable provided the buyer independently verifies that the quoted price is consistent with current LBMA spot minus an appropriate discount for the purity and processing stage being purchased.

Bulk Volume Discount Structure

Virtually all African gold exporters offer tiered pricing based on purchase volume. Standard discount tiers for bulk gold purchases in Africa typically work as follows: orders of 1–5 kg attract base pricing with minimal discount, orders of 5–20 kg attract 1–3% additional discount, orders of 20–50 kg attract 3–5% additional discount, and orders above 50 kg are individually negotiated with discounts potentially reaching 5–8% below the standard base price.

First-time buyers are strongly advised to start with a smaller order — 1–2 kg — regardless of the volume discount available on larger purchases. The cost of verifying a supplier’s legitimacy through a trial shipment is trivial compared to the potential loss on a large fraudulent transaction.

Price Adjustments for Purity Variations

When purchasing natural gold nuggets or gold dust — as opposed to refined bars — the final price is adjusted based on actual assay results. A consignment quoted as “approximately 92% purity” that tests at 89% on independent assay will be repriced accordingly.

This purity adjustment mechanism is standard in the African gold trade and legitimate sellers apply it transparently. Sellers who resist purity adjustment clauses — insisting on payment at the original quoted purity regardless of assay results — are either confident that their gold genuinely meets the stated purity, or they know it does not.


African Gold Bar Sizes and Weights Available

African gold is available across a range of bar sizes and weights, from small retail units to large commercial bars suitable for direct delivery to refineries:

1 gram gold bars: Available from South African and Ghanaian refineries. Carry the highest premium per gram due to high production cost relative to gold content. Suitable for retail investors and gift market buyers.

5 gram and 10 gram gold bars: Common in the retail gold markets of Accra, Kampala, and Nairobi. Premiums are high relative to larger bars but accessibility makes them popular with smaller investors entering African gold markets.

1 troy ounce gold bars (31.1 grams): The most liquid bar size globally. Rand Refinery (South Africa) 1 oz bars are among the most widely recognised and tradeable in international markets. Premiums typically 3–5% above spot for branded bars.

100 gram gold bars: A practical commercial size balancing competitive premium with manageable per-bar value. Standard offering from licensed African gold exporters for mid-size international buyers.

1 kilogram gold bars: The preferred commercial unit for international gold trade between African exporters and Dubai, European, or Asian buyers. Per-gram premiums are lowest in this size range (typically 0–3% above or below spot for refined bars), making 1 kg bars the best value unit for serious investors.

Large commercial bars (10–12.5 kg): Standard for LBMA Good Delivery, central bank reserves, and major refinery delivery. Available from LBMA-accredited African refineries, primarily in South Africa and Ghana. Premiums are negligible — these bars trade essentially at spot.


The True Cost of Buying Gold Bars from Africa: What Buyers Actually Pay

The quoted per-gram price is only the starting point of the total cost calculation for buying African gold bars. Serious buyers build a complete landed cost model that includes every expense between the mine-gate price and the gold arriving in their vault or refinery:

Base gold price: The per-gram or per-troy-ounce price negotiated with the licensed African exporter, expressed relative to LBMA spot.

Mineral royalties and export taxes: Varies by country — Ghana 3%, DRC 3.5%, Uganda variable. These are real costs that legitimate exporters include in their total price or itemise separately.

PMMC/DGSM/CEEC certification fees: Laboratory assay and certification costs, charged per consignment based on weight. Typically $200–$800 per consignment depending on size.

Specialist logistics costs: Brinks, G4S, Malca-Amit, or equivalent armoured transport and international air freight — $280–$600 per kilogram depending on route and security specification.

Insurance in transit: 0.5–2% of declared shipment value. Non-negotiable for commercial gold shipments.

Destination customs duties: Import duties and VAT at the destination country, where applicable. UAE: zero for DMCC free zone imports. EU: variable. USA: generally duty-free for monetary gold but subject to declaration requirements.

Refining costs at destination: For semi-refined doré or high-purity nuggets that need processing to meet investment-grade specifications, refining costs of $3–$8 per gram apply at the destination refinery.

Currency conversion costs: For non-USD denominated purchases, add bank FX spread of 0.5–2%.

A complete landed cost calculation for a 10 kg purchase of 22K Ugandan gold nuggets might look like: base price $82/gram ($820,000 total) + export royalty 2% ($16,400) + certification $500 + logistics $4,000 + insurance $8,200 + destination refining $40,000 = total landed cost approximately $889,100, or $88.91/gram for gold that becomes 24K investment-grade product after refining at the destination.

Compared to buying the equivalent 10 kg of refined 24K gold in Dubai at $107/gram ($1,070,000), the African sourcing route saves approximately $181,000 on a single 10 kg transaction — an 18% cost reduction that explains the sustained and growing interest in direct African gold sourcing.


African Gold Price Trends: What’s Driving Prices in 2025

Several macro and micro factors are shaping African gold bar prices in 2025 and will continue influencing them throughout the year:

Rising Global Gold Spot Prices Support African Market Values

International gold prices hit record highs in 2024 and have remained elevated in 2025, driven by central bank gold buying — particularly from China, India, and emerging market central banks — geopolitical uncertainty, persistent inflation in major economies, and the dollar’s relative performance. Higher global spot prices mean higher absolute African gold prices in dollar terms, even where the percentage discount to spot remains stable.

Increased Formalisation of African Artisanal Mining

Several African governments — including Uganda, Ghana, and DRC — have implemented or strengthened artisanal mining formalisation programmes that bring previously informal miners into the licensed supply chain.

Formalisation increases compliance costs for miners (licence fees, royalties, certification) which modestly reduces the raw discount available on artisanal gold, but it significantly improves documentation quality and conflict-mineral compliance — making formalised African gold more accessible to institutional buyers with stringent due diligence requirements.

Growing UAE and Asian Demand for African Gold

Dubai’s role as the world’s largest re-export hub for African gold continues to grow, with UAE gold imports from sub-Saharan Africa increasing significantly over the past three years.

Asian refinery demand — particularly from Chinese and Indian buyers — is also increasing directly from African source countries, bypassing the traditional Dubai intermediary layer.

This rising direct demand is gradually tightening supply availability at the best prices, as more institutional buyers compete for the same licensed exporter relationships.

Currency Pressures in Key African Gold Countries

Ongoing depreciation of the Ugandan Shilling, Ghanaian Cedi, and Congolese Franc against the US dollar in 2024–2025 has modestly improved the dollar-denominated competitiveness of African gold by reducing local currency production costs. However, these currency pressures also increase economic instability risk in the operating environment, which buyers should factor into their supply chain risk assessment.


Where to Buy African Gold Bars Online at the Best Price

For international buyers who cannot travel to Africa for in-person gold purchasing, the online African gold market offers genuine buying opportunities — alongside significant fraud risk. Here is how to navigate it correctly:

Work only with licensed exporters: Every legitimate online African gold seller holds a verifiable government-issued export licence — DGSM in Uganda, Minerals Commission in Ghana, Ministry of Mines in DRC, TMAA in Tanzania. Verify licence numbers independently through the relevant government authority before any engagement.

Request spot-referenced pricing: Legitimate online African gold dealers quote prices as a percentage of current LBMA spot, not arbitrary fixed prices disconnected from the live market. A website showing fixed gold prices that never change relative to the international market is not a credible dealer.

Start with a trial shipment: Regardless of how attractive the pricing appears, always start with a 1–2 kg trial order to verify the supplier’s delivery reliability, gold quality, and documentation completeness before committing to larger purchases.

Use payment protection: Bank letter of credit (LC) or licensed escrow for all transactions above $10,000. Never wire full payment to an African gold dealer before independent assay results are confirmed.

Verify independently: Cross-check every piece of documentation — export licence, assay certificate, company registration — through the issuing government authority, not through documents provided by the seller.


Online Gold Buying in Africa

Frequently Asked Questions: African Gold Bar Prices

What is the current price of a gold bar from Africa?
A 1 kg refined 24K gold bar from a licensed African exporter currently costs $103,000–$108,000, consistent with 0–3% below the LBMA spot price. Natural 22K gold nuggets in 1 kg quantities cost $78,000–$90,000, reflecting the 10–20% discount for unrefined gold.

Which African country has the cheapest gold?
For raw gold nuggets and alluvial gold, the DRC (particularly Ituri and North Kivu provinces) and Uganda offer the most competitive prices in Africa — typically 15–25% below LBMA spot. For refined investment-grade bars with the best documentation, Ghana and South Africa are most competitive on a risk-adjusted basis.

Is African gold cheaper than Dubai gold?
Yes, significantly. Refined gold bars from licensed African exporters trade at 0–3% below LBMA spot. Equivalent bars in Dubai trade at 4–6% above spot. For semi-refined or natural gold, the African price advantage reaches 15–25% below what Dubai dealers charge for refined product.

How much is gold dust worth per gram in Africa?
Raw gold dust in Africa currently trades at $58–$80 per gram depending on purity (typically 80–92%) and country of origin. This represents a 15–25% discount to the LBMA refined gold spot price, reflecting the cost of refining required to bring gold dust to investment-grade standard.

What is the gold price per gram in Uganda today?
In Uganda, natural gold nuggets (22K–24K) currently trade at $72–$88 per gram from licensed exporters. Refined 24K gold bars are available at $103–$106 per gram. Raw gold dust trades at $60–$78 per gram depending on purity.

Can I buy gold bars directly from African miners?
Not legally as a foreign buyer. In all major African gold-producing countries, foreign buyers must purchase through a licensed gold exporter or dealer — not directly from miners.

Licensed exporters manage the assay, export permit, and customs documentation that makes the gold legally exportable and importable at your destination.

How do I get the best price on African gold bars?
Buy in volume (10 kg+ attracts meaningful discounts), work directly with licensed exporters rather than intermediaries, time your purchase to LBMA spot on assay date rather than agreeing a fixed price in advance, and compare quotes from at least two verified licensed exporters before committing.


African gold bar prices represent the most competitive entry point into the global gold market available to serious investors, refineries, and bullion traders today. The combination of genuine mine-gate pricing, significant discounts on natural and semi-refined gold, and the growing institutional infrastructure supporting compliant African gold export creates a price advantage unavailable from any other region.

The key to capturing that advantage is working exclusively with licensed, verified exporters, structuring every transaction with proper documentation and payment protection, and building supplier relationships that deliver consistent, compliant supply at the prices Africa’s gold sector genuinely offers.

Contact a licensed African gold exporter today for a real-time quotation on gold bars, nuggets, or doré — and access the world’s most competitive gold prices directly from the source.

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