The general public has been officially informed that, under the newly passed Ghana Gold Board Act (Act 1140), all licenses previously issued by the Precious Minerals Marketing Company (PMMC) or the Minister responsible for Mines to individuals or companies other than large-scale mining entities have ceased to be valid.
The Act, passed by Parliament on 29th March 2025 and assented to by the President on 2nd April 2025, mandates that the Ghana Gold Board (GoldBod) is now the sole authority in charge of buying, selling, assaying, and exporting gold from Ghana’s Artisanal and Small-Scale Mining (ASM) sector.
Effective immediately, only GoldBod or its licensed buyers, aggregators, or service providers are permitted to trade or export ASM gold within and outside the country. All other entities previously operating under PMMC or ministerial licenses are to halt their activities.
However, to ensure a smooth transition and protect existing contractual agreements, GoldBod has announced a grace period.
Licensed buyers may continue gold purchases and exports under old licenses until 30th April 2025.
During this period, all gold transactions must be conducted in Ghana cedis, within pricing based on the Bank of Ghana Reference Rate available at www.bog.gov.gh.
Beginning 22nd April 2025, Ghanaians and fully Ghanaian-owned companies whose licenses have expired—or individuals seeking to enter the gold trade—are advised to apply for new licenses under the GoldBod framework.
Applications can be submitted online (via the official GoldBod website, which will go live on the same day) or in person at the GoldBod Licensing and Regulations office at its headquarters in Accra.
The statement, signed by Prince Kwame Minkah, Media Relations Officer of GoldBod, further instructs all foreign nationals involved in local gold trading to exit the market no later than 30th April 2025.
Foreigners interested in participating in the gold trade may apply to purchase gold directly from GoldBod.
It was emphasized that, effective 1st May 2025, dealing in gold without a valid GoldBod-issued license will constitute a punishable offence under Ghanaian law.
This development marks a significant policy shift aimed at centralizing and regulating Ghana’s gold trade, particularly within the ASM sector, to ensure transparency, compliance, and improved revenue mobilization.
By: Akora kofi Darko
