In a sweeping move that is set to upend Ghana’s gold trading landscape, the Ghana Gold Board (GoldBod) has declared that all licenses previously issued by the Precious Minerals Marketing Company (PMMC) or the Minister for Mines—except those granted to large-scale mining firms—are no longer valid.
This follows the recent passage of the Ghana Gold Board Act (Act 1140), 2025, which was signed into law on April 2.
Under the new regime, GoldBod is now the sole legal buyer, seller, assayer, and exporter of gold from Ghana’s Artisanal and Small-Scale Mining (ASM) sector.
In a statement signed by GoldBod’s Media Relations Officer, Prince Kwame Minkah, the Board stressed that no individual or entity is allowed to export ASM gold or deal in gold unless licensed directly by GoldBod. Even licensed aggregators and buyers must now operate under the authority of GoldBod.
However, to avoid abrupt disruption, a temporary grace period has been granted:
“Persons holding valid licenses from the PMMC or the Minister for Mines may continue to buy and export gold until 30th April 2025,” the statement noted.
Other key directives include: All licensed gold transactions must be conducted in Ghana cedis, using rates pegged to the Bank of Ghana’s Reference Rate; All foreigners must exit the local gold trade by 30th April 2025 unless they obtain special permission from GoldBod; and from 1st May, 2025, any unauthorized gold dealing will be considered a criminal offense.
Gold traders whose licenses have been revoked are encouraged to reapply under the new framework starting April 22, 2025, either online or at GoldBod’s Accra office.
This major policy shift is being seen as a bold move to centralize control over one of Ghana’s most critical export sectors.