The Ghana Gold Board has notified the public that all licenses granted to individuals other than large mining companies to deal in gold by the Precious Minerals Marketing Company (PMMC) and/or the Minister responsible for Mines have expired in accordance with the Ghana Gold Board Act (ACT 1140), 2025, which was approved by Parliament on March 29, 2025, and approved by the President of the Republic on April 2, 2025.
According to the GoldBod, it now purchases, sells, assays, and exports all gold generated by the authorized artisanal and Small-Scale Mining (ASM) industry.
Therefore, according to a statement signed by Prince Kwame Minkah, GoldBod’s media relations officer, and released on Monday, April 14, only the Ghana Gold Board is authorized to export ASM gold from Ghana.
Additionally, no one else is allowed to acquire or deal in gold in the nation save the GoldBod or a licensed buyer, aggregator, or service provider of the GoldBod.
However, the statement also stated that the Ghana Gold Board has decided to permit gold purchases and exports by individuals who possess the proper licenses granted to them by the PMMC and/or the Minister Responsible for Mines until April 30, 2025, in order to facilitate a seamless transition and uphold current contractual obligations between licensed gold buyers and their off-takers.
“For the time being, all licensed persons or entities buying gold from the local market must do so in Ghana cedis and at a price calculated based on the Bank of Ghana Reference Rate published on www.bog.gov.gh.
“Any Ghanaian or a fully-owned Ghanaian company whose license has ceased to be valid and/or any Ghanaian who is desirous of dealing in gold is encouraged to apply for a license under the Ghana Gold Board Act (ACT 1140), 2025, effective Tuesday, 22nd April, 2025.”
“An application for a GoldBod license may be done online, via the website of the GoldBod (to be activated and published on the effective date for license applications, 22nd April 2025), or physically at the GoldBod Licensing and Regulations office located at our head office in Accra.”
“All foreigners are hereby notified to exit the local gold trading market not later than 30th April, 2025. A foreigner may, however, apply to the GoldBod to buy or off-take gold directly from the GoldBod.”
“It is worthy of note that it shall constitute a punishable offense for a person to purchase or deal in gold in the country without a license issued by the Ghana Gold Board, effective 1st May, 2025,” the statement added.
Source: newsthemegh.com