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The newly-constituted Ghana Gold Board (GoldBod) has issued a short deadline of 30th April 2025 for all foreigners to exit the local gold purchasing market.
In a statement dated Monday, 14th April, the Board stated that, pursuant to the Ghana Gold Board Act (Act 1140), 2025, all licences previously issued by the Precious Minerals Marketing Company (PMMC) and/or the Minister responsible for Mines to any person other than a large-scale mining company to deal in gold have ceased to be valid.
The GoldBod is now the sole buyer, seller, assayer, and exporter of all gold produced by the licensed Artisanal and Small-Scale Mining (ASM) sector.
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The statement read:
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As such, no person other than the Ghana Gold Board (GoldBod) is permitted to export ASM gold from Ghana. Also, no person other than the GoldBod, or a licensed buyer, aggregator, or service provider of the GoldBod, is permitted to purchase or deal in gold in the country.
To ensure a smooth transition and to respect existing contractual obligations between licensed gold buyers and their off-takers, the Board noted that:
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The Ghana Gold Board has resolved to allow gold purchases and exports by persons holding valid licences issued by the PMMC and/or the Minister responsible for Mines until 30th April 2025.
Furthermore, all licensed persons or entities currently buying gold from the local market must conduct transactions in Ghana cedis, with prices based on the Bank of Ghana Reference Rate, as published on www.bog.gov.gh.
The statement also encouraged Ghanaian individuals or wholly Ghanaian-owned companies whose licences have ceased to be valid—and those interested in engaging in gold trading—to apply for a new licence under the Ghana Gold Board Act (Act 1140), 2025, effective Tuesday, 22nd April 2025.
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The GoldBod issued a stern warning that, from 1st May 2025, any person dealing in gold without a valid licence from the Ghana Gold Board will be committing a punishable offence.
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