The Ghana Gold Board (Goldbod) has declared that all gold trading licenses previously issued to individuals by the Precious Minerals Marketing Company (PMMC) or the Minister of Mines are no longer valid.
The sweeping directive, which exempts large-scale mining companies, is in line with the Ghana Gold Board Act (Act 1140), 2025.
The law was passed by Parliament on March 29 and received Presidential assent on April 2.
In a statement signed by Prince Kwame Minkah, Media Relations Officer of Goldbod, the Board affirmed its new role as the exclusive buyer, seller, assayer, and exporter of gold from Ghana’s licensed Artisanal and Small-Scale Mining (ASM) sector.
According to the directive, only Goldbod or its licensed buyers, aggregators, or service providers are authorized to deal in gold within the country.
It further emphasized that no entity aside from Goldbod is permitted to export gold sourced from the ASM sector.
“To ensure a smooth transition and uphold existing contractual obligations, individuals and entities currently holding valid PMMC or ministerial licenses may continue operations until April 30, 2025,” the statement said.
It added that all local gold purchases must be transacted in Ghana cedis, with prices pegged to the Bank of Ghana Reference Rate published on www.bog.gov.gh.
Goldbod urged individuals and companies whose licenses have expired—and those seeking to enter the gold trade—to apply for new licenses under the Ghana Gold Board Act beginning April 22, 2025.
Applications can be made online via the Goldbod website or at its Licensing and Regulations office in Accra.
The Board also issued a strong warning to foreigners engaged in local gold trading, asking them to exit the domestic gold market by April 30, 2025.
However, foreigners may apply directly to Goldbod to engage in gold purchasing or off-taking activities.
“Effective May 1, 2025, it will be a punishable offense to purchase or deal in gold without a valid license issued by the Ghana Gold Board,” the statement concluded.
The announcement marks a significant shift in Ghana’s gold trade regulation and is expected to tighten oversight, enhance revenue collection, and promote responsible sourcing within the sector.
