Examples of the differences in proof is Colombia , requiring their rums possess a minimum alcohol content of 50% alcohol by volume (ABV) [ citation needed ] , while Chile and Venezuela require only a minimum of 40% ABV. Mexico requires rum be aged a minimum of eight months; the Dominican Republic , Panama and Venezuela require two years. Naming standards also vary. Argentina defines rums as white, gold, light, and extra light. Grenada and Barbados uses the terms white, overproof, and matured, while the United States defines rum, rum liqueur, and flavored rum.  In Australia, rum is divided into dark or red rum (underproof known as UP, overproof known as OP, and triple distilled) and white rum.