IN A LANDMARK move to overhaul Ghana’s gold trading sector, the Ghana Gold Board (GoldBod) has announced that it is now the exclusive buyer, seller, assayer and exporter of gold from the Artisanal and Small-Scale Mining (ASM) sector.
This follows the recent passage of the Ghana Gold Board Act (ACT 1140), 2025, which was signed into law by the President on April 2, 2025.
Key Changes:
All previous licenses issued by the Precious Minerals Marketing Company (PMMC) or the Minister responsible for Mines – except those for large-scale mining companies – are now invalid.
Only GoldBod and its licensed partners can buy, sell or export ASM gold in Ghana.
Gold purchases in the local market must be made in Ghana cedis, at rates pegged to the Bank of Ghana Reference Rate.
To ensure a smooth transition, GoldBod will allow current PMMC or Ministerial license holders to continue operations until April 30, 2025. After this date, only GoldBod and its approved licensees may operate in the sector.
Foreigners Ordered Out
All foreigners have been given until April 30, 2025, to exit the local gold trading market. While they may apply to buy or off-take gold directly from GoldBod, any unauthorized gold trading after May 1, 2025, will be a punishable offense.
New Licensing Regime
Ghanaians and fully-owned Ghanaian companies whose licenses have expired or who wish to enter the gold trade, are encouraged to apply for new GoldBod licenses starting April 22, 2025. Applications can be submitted online or at the GoldBod Licensing and Regulations office in Accra.
Strict Enforcement
From May 1, 2025, any person or entity dealing in gold without a GoldBod-issued license will face legal penalties.
Soirce: Nationaltymes.com
