The Ghana Gold Board (GoldBod) has announced the invalidation of all gold trading licenses previously issued by the Precious Minerals Marketing Company (PMMC) and/or the Minister responsible for Mines, except those held by large-scale mining companies.
This directive is in accordance with the Ghana Gold Board Act (Act 1140), 2025, which came into effect following its passage by Parliament on March 29 and subsequent presidential assent on April 2.
In a statement signed by Prince Kwame Minkah, Media Relations Officer of GoldBod, the agency declared itself the sole legal buyer, seller, assayer, and exporter of gold produced by the licensed Artisanal and Small-Scale Mining (ASM) sector.
GoldBod announced that beginning Tuesday, April 22, 2025, Ghanaians or wholly Ghanaian-owned companies who wish to engage in gold trading must apply for a new license under the Ghana Gold Board Act.
Applications may be submitted online through a portal to be launched on the effective date, or physically at the GoldBod Licensing and Regulations Office at its headquarters in Accra.
The agency emphasized that from May 1, 2025, it will be a criminal offense for any person or entity to deal in gold without a valid license issued by the Ghana Gold Board.
To facilitate a smooth transition and honor existing contractual obligations, GoldBod has granted a temporary window allowing holders of valid PMMC-issued licenses to continue gold trading and exports until April 30, 2025.
Furthermore, all gold purchases from the local market must be conducted strictly in Ghana cedis, using pricing based on the Bank of Ghana Reference Rate available on www.bog.gov.gh.
The Ghana Gold Board has issued a firm directive for all foreign nationals engaged in the local gold trading market to exit by April 30, 2025. However, foreigners may apply to the GoldBod to buy or off-take gold directly from the board.
“No person other than the Ghana Gold Board or a licensed buyer, aggregator, or service provider of the GoldBod is permitted to purchase or deal in gold in the country,” the statement read.
