The Ghana Gold Board (GoldBod) has served notice that all licences previously issued by the Precious Minerals Marketing Company (PMMC) or the Minister responsible for Mines—excluding those granted to large-scale mining companies—are no longer valid.
The effective date for the end of life of the affected licences is 2nd April 2025, when the Ghana Gold Board Act, 2025 (Act 1140 received presidential assent, according to a statement signed by Prince Kwame Minkah, Media Relations Officer of GoldBod.
The statement reminded all that GoldBod has officially been established as the sole entity responsible for the purchase, sale, assaying, and export of all gold produced by the Artisanal and Small-Scale Mining (ASM) sector in Ghana.
The new legislation consolidates gold trade oversight under a single authority, with GoldBod now empowered as the only institution permitted to export ASM gold from Ghana.
Additionally, the statement clarified that only GoldBod and its licensed buyers, aggregators, or approved service providers may lawfully purchase or trade in gold within the country.
To ensure a seamless transition and protect ongoing business contracts, the GoldBod said it is allowing existing gold dealers holding PMMC or ministerial licences to continue operations until 30th April 2025, after which date all unlicensed trade in gold will constitute a punishable offence under the new law.
Ghanaians or wholly Ghanaian-owned entities whose licences have expired, or who wish to enter the gold trade legally, are advised to apply for new licences under the Ghana Gold Board Act beginning Tuesday, 22nd April 2025.
Applications may be submitted either online via the GoldBod’s official website—set to go live on the same date—or in person at the Licensing and Regulations Office at the GoldBod’s head office in Accra.
As part of the new trading structure, all local gold transactions must be conducted in Ghana cedis, using pricing based on the Bank of Ghana Reference Rate, available at www.bog.gov.gh.
Directive to Foreign Traders
The GoldBod has also issued a firm directive to foreign nationals involved in the local gold market to exit the sector no later than 30th April 2025.
However, foreigners interested in sourcing gold may apply to the GoldBod to purchase directly from the board as off-takers.
Enforcement Begins in May From 1st May 2025, it will be a criminal offence to buy or deal in gold in Ghana without a valid GoldBod-issued licence.
The GoldBod says this measure is aimed at sanitising the gold trade, curbing illicit exports, and ensuring greater transparency and accountability within the ASM gold value chain.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
