The Ghana Gold Board (GoldBod) has issued a significant directive marking a major shift in the country’s gold trade framework. Following the enactment of the Ghana Gold Board Act (ACT 1140), 2025, all previously issued licenses by the Precious Minerals Marketing Company (PMMC) or the Minister responsible for Mines, for individuals or companies other than large-scale mining operators, have been rendered invalid.
According to a press statement released today, GoldBod has now assumed the sole authority as the buyer, seller, assayer, and exporter of all gold produced by the licensed Artisanal and Small-Scale Mining (ASM) sector in Ghana. This move consolidates the country’s gold trade under a single regulatory body aimed at improving transparency, accountability, and economic benefits.
“No person other than the Ghana Gold Board (GoldBod) is permitted to export ASM gold from Ghana,” the statement emphasized. Additionally, no other entity is allowed to purchase or deal in gold unless authorized as a licensed buyer, aggregator, or service provider under GoldBod.
In light of existing contractual obligations, the Board will allow individuals and entities with valid PMMC-issued licenses to continue operations until April 30, 2025, ensuring a smooth transition to the new regime.
Key Highlights of the Directive:
- All gold market transactions must be conducted in Ghana cedis, pegged to the Bank of Ghana reference rate.
- Applications for a GoldBod license will open on April 22, 2025, available both online and at the GoldBod office in Accra.
- Foreign entities are mandated to exit the local gold trading space by April 30, 2025. However, they may apply to engage GoldBod directly for gold purchases or off-take agreements.
- From May 1, 2025, any individual or company dealing in gold without a GoldBod-issued license will be committing a criminal offense.
Ghanaians and Ghanaian-owned companies whose licenses have expired are encouraged to reapply under the new law starting April 22, 2025.
This sweeping reform seeks to tighten regulatory oversight in Ghana’s gold industry and ensure that proceeds from the nation’s mineral wealth benefit the country more directly and efficiently.
For further details, the public is advised to contact the GoldBod Media Relations Office at +233256203488 or +233545540001.
