The Ghana Gold Board (GoldBod) has declared that all previously issued gold trading licenses by the Precious Minerals Marketing Company (PMMC) or the Minister responsible for Mines, except those issued to large-scale mining companies, are no longer valid.
This follows the enactment of the Ghana Gold Board Act, 2025 (Act 1140), passed by Parliament on March 29, 2025 and signed into law by the President on April 2, 2025.
In a statement dated April 14, signed by Prince Kwame Minkah, Media Relations Officer, GoldBod announced that it now serves as the sole authorized entity to purchase, assay, sell, and export gold produced by Ghana’s Artisanal and Small-Scale Mining (ASM) sector.
To allow for a smooth transition, GoldBod has given current license holders a grace period to continue operations until April 30, 2025. After that date, all previous licenses become invalid.
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GoldBod emphasized that:
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All gold purchases from the local market must be made in Ghana cedis, with pricing based on the Bank of Ghana Reference Rate.
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Ghanaian individuals or wholly Ghanaian-owned companies whose licenses have expired — or who wish to enter the gold trade — must apply for a new license from GoldBod starting April 22, 2025.
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Applications may be submitted online (via a website going live on April 22) or in person at the GoldBod Licensing and Regulations Office in Accra.
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Foreigners must exit the local gold trading market by April 30, 2025, unless authorized by GoldBod to purchase or off-take gold directly.
GoldBod also warned of legal penalties for non-compliance.
“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,” the statement added.