The Ghana Gold Board (GoldBod) has announced the termination of all gold trading licences previously granted by the Precious Minerals Marketing Company (PMMC) and the Ministry of Lands and Natural Resources, marking a major shake-up in Ghana’s gold trading landscape.

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In a statement issued on April 14, 2025, GoldBod clarified that following the passage of the Ghana Gold Board Act (Act 1140), 2025, “all licenses issued by the Precious Minerals Marketing Company (PMMC) and/or the Minister responsible for Mines to a person other than a large scale mining company to deal in gold, have ceased to be valid.”

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The newly established GoldBod now serves as the exclusive buyer, seller, assayer, and exporter of gold produced by Ghana’s licensed Artisanal and Small-Scale Mining (ASM) sector. “No person other than the Ghana Gold Board (GoldBod), is permitted to export ASM gold from Ghana,” the statement added, emphasizing the agency's monopoly over local and international ASM gold transactions.

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To accommodate ongoing contracts and avoid disruption in the sector, the Board has granted a temporary window allowing PMMC-licensed entities to continue trading and exporting gold until April 30, 2025.

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While the transition is underway, all gold purchases on the local market must be made in Ghana cedis, using pricing tied to the Bank of Ghana’s reference rate. The Board further encouraged Ghanaian individuals or companies whose licences have lapsed, as well as new entrants, to apply for fresh licences under the new regime beginning April 22, 2025.

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Applications can be submitted either online through a portal expected to go live on the effective date or in person at the GoldBod Licensing and Regulations office at the Board’s Accra headquarters.

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The Board has also directed all foreign nationals involved in local gold trading to exit the market by the end of April. However, foreigners may seek GoldBod approval to purchase gold directly from the agency.

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GoldBod cautioned 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.”

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