The Ghana Gold Board (GoldBod) has announced that all existing gold trading licences issued by the Precious Minerals Marketing Company (PMMC) or the Minister for Mines—except those held by large-scale mining companies—are no longer valid.
The move according to the GoldBod is to tighten oversight of Ghana’s artisanal and small-scale mining (ASM) gold trade.
A statement issued by the GoldBod explained that the decision is backed by the Ghana Gold Board Act (Act 1140), passed by Parliament on March 29 and assented to by the President on April 2, 2025.
The GoldBod has also become the sole legal buyer, seller, assayer, and exporter of all gold produced by licensed ASM operators in Ghana—a sweeping reform aimed at curbing smuggling, streamlining trade, and ensuring full state oversight of the ASM sector.
“No person other than the Ghana Gold Board is permitted to export ASM gold from Ghana,” the statement announced.
It has therefore provided a transitional grace period to avoid operational disruptions.
Individuals or companies holding licenses from the PMMC or the minister may continue their operations until April 30, 2025.
However, starting May 1, dealing in gold without a GoldBod-issued licence will be considered a punishable offence, the statement added.
The statement further directed all licensed local gold buyers to trade exclusively in Ghana cedis, using exchange rates referenced on the Bank of Ghana’s website.
Meanwhile, foreign nationals have been directed to exit the local ASM gold trading market by April 30, 2025.
The foreign nationals may still apply to GoldBod to purchase gold directly, but they will no longer be permitted to operate independently within the local ASM trade.
“It is worthy of note that it shall constitute a punishable offence for a person to purchase or deal in gold in the country without a licence issued by the Ghana Gold Board, effective 1st May, 2025,” the statement added.
Ghanaians and fully Ghanaian-owned companies interested in entering the sector can apply for new licences beginning April 22, 2025, either online or in person at the GoldBod Licensing and Regulations office in Accra.
By: Rainbowradioonline.com/Ghana
