GoldBod Announces Revocation Of PMMC Gold-buying Licences
The Ghana Gold Board (GoldBod) has announced the official revocation of all gold-buying licences issued by the Precious Mineral Marketing Company (PMMC).
This follows the passage of the Ghana Gold Board Act (ACT 1140), 2025, by Parliament on March 29 and its subsequent assenting by President John Dramani Mahama on April 2.
A statement issued by the Board on April 14 noted that GoldBod is currently the sole buyer, seller, assayer and exporter of all gold produced by the licensed Artisanal and Small-Scale Mining (ASM) sector.
This means that only the Board is authorized to export ASM gold from Ghana.
Additionally, it said no person other than GoldBod or a licensed buyer or aggregator or service provider of the GoldBod, is permitted to purchase or deal in gold in the country.
Grace Period
Gold buyers with the licence have been given until April 30 to cease using the PMMC-issued licence.
“However, to ensure a smooth transition and respect for existing contractual obligations between licensed gold buyers and their off-takers, the Ghana Gold Board has resolved to allow for gold purchases and exports by persons holding appropriate licences issued to them by the PMMC and/or the Minister Responsible for Mines until 30th April 2025.”
Before the stipulated time, all licensed persons or entities buying gold from the local market, are directed to use the Ghana cedis and go by a price calculated based on the Bank of Ghana Reference Rate published on its website.
Application
The Board further directed any Ghanaian or a fully owned Ghanaian company interested in dealing in gold to apply for a licence under the Ghana Gold Board Act (ACT 1140), 2025.
Applications open on Tuesday, April 22, 2025.
“An application for a GoldBod licence 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.”
It added that foreigners also had a chance to trade in gold.
“All foreigners are hereby notified to exit the local gold trading market no later than 30th April 2025. A foreigner may however apply to the GoldBod to buy or off-take gold directly from the GoldBod.”
Caution
GoldBod also warned against the implications of defying the directive.
“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.”
Source: opemsuo.com/Hajara Fuseini
