The Ghana Gold Board has taken exclusive control over all gold transactions in the country, effectively ending the authority of other entities to buy or sell gold.
Under the new regulations set forth in the Ghana Gold Board Act (ACT 1140), all licenses previously issued by the Precious Minerals Marketing Company (PMMC) and the Minister responsible for Mines to individuals for gold dealings are now void.
This shift makes the GoldBod the sole entity authorized to purchase, sell, assay, and export gold produced by the licensed Artisanal and Small-Scale Mining (ASM) sector.
Beginning immediately, only the GoldBod or licensed buyers, aggregators, and service providers are permitted to engage in gold transactions within Ghana. This includes a strict prohibition on exporting ASM gold by any other entity than the GoldBod.
To facilitate a smooth transition, individuals with existing licenses from PMMC and/or the Minister Responsible for Mines are allowed to conduct gold purchases and exports until April 30, 2025. However, all transactions must be carried out in Ghana cedis based on the Bank of Ghana Reference Rate.
Ghanaians or fully-owned Ghanaian companies whose licenses have become invalid are encouraged to apply for a GoldBod license under the new legislation starting April 22, 2025. Applications can be made online or in person at the GoldBod Licensing and Regulations office in Accra.
Furthermore, all foreigners have been mandated to exit the local gold trading market by April 30, 2025, unless they obtain approval from the GoldBod to directly engage in gold transactions.
As of May 1, 2025, purchasing or handling gold without a valid license from the Ghana Gold Board will be considered a punishable offense, emphasizes the GoldBod media relations officer, Prince Kwame Minkah.
For more information or to apply for a license, kindly contact the GoldBod at the provided contact numbers.
Stay tuned for updates on this significant development in Ghana’s gold industry.
