The Ghana Gold Board (GoldBod) has announced that, following the passage of the Ghana Gold Board Act (ACT 1140), 2025, all licenses issued by the Precious Minerals Marketing Company (PMMC) or the Minister responsible for Mines to individuals other than large-scale mining companies are no longer valid.
Under the new law, GoldBod is now the sole entity authorized to buy, sell, assay, and export all gold produced by the licensed Artisanal and Small-Scale Mining (ASM) sector in Ghana.
In a statement, the Media Relations Officer of GoldBod, Prince Kwame Minkah indicated that, as such, no person other than the GoldBod or a licensed buyer or aggregator or service provider of the GoldBod, is permitted to purchase or deal in gold in the country.
“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 licenses issued to them by the PMMC and/or the Minister Responsible for Mines until 30th April, 2025”.
Additionally, all gold purchases from the local market must now be made in Ghanaian cedis, with pricing based on the Bank of Ghana Reference Rate.
The statement further highlighted that, an application for a New GoldBod License
Starting April 22, 2025, would be made to any Ghanaian or fully Ghanaian-owned company that wishes to legally engage in gold trade .
The statement emphasize that, the applicant must apply for a license under the new law.
“Applications can be submitted online via GoldBod’s website or physically at its Licensing and Regulations office in Accra”.
The statement further retierated that, all foreigners 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”.
Read full statement below
