The Ghana Gold Board (Goldbod) has extended the deadline for gold traders with outdated licences to reapply under its new regulatory framework. The revised cut-off date is now May 21, 2025.

At a press briefing held on Wednesday, April 30, acting Chief Executive Officer of Goldbod, Sammy Gyamfi, announced the extension, acknowledging that many license holders under the defunct Precious Minerals Marketing Company (PMMC) and the Ministry of Lands and Natural Resources had not completed the reapplication process.

“We gave all PMMC license holders and holders of licenses issued by the minister responsible for mines an ultimatum which elapses today, 30th of April, to apply for new licenses under the Ghana Gold Board Act,” Mr. Gyamfi stated.

“But we know that most of you have not been able to apply at all. We can also see from the back end of our website and the license application portal that some of you have started the process of applying, but have not yet completed the application process,” he added.

Although a few individuals have submitted complete applications, Goldbod has opted to offer a three-week grace period to accommodate those still in the process.

“We've decided to extend the time frame for you to apply for a new Gold Board license, and that time frame is from today, the 30th of April, 2025, to the 21st of May, 2025. We believe that this is fair, and this time frame should be adequate for anybody who is serious and desirous of applying for a Gold Board license to do so,” he explained.

Under the new Ghana Gold Board Act, all previously issued licences for gold trading have been rendered void. Mr. Gyamfi urged traders who wish to stay in business to submit fresh applications via the Goldbod website.

“Let me indicate again that if you want a license, you must go to the website of the Gold Board, which is goldbod.gov.gh, and goldbod is G-O-L-D-B-O-D, not B-O-A-R-D. Make sure you read the requirements and terms and conditions of the license accepted before you begin the process,” he cautioned.

He further advised applicants to pay close attention to detail when filling out the forms, as inaccuracies could lead to disqualification.

“If you make serious omissions or errors in the application, it will go against you in terms of the decision that the Gold Board will take on that application,” Mr. Gyamfi warned.

Emphasising the finality of the new timeline, he made it clear that the May 21 deadline will not be extended again.

“This new deadline of 21st May 2025 is not subject to further extension. It will not be extended… By the 21st of this month, only persons who have been granted licenses by the Gold Board will be tolerated in the gold trading sector.

"If you are a Ghanaian and you hold a license under PMMC or the ministry responsible for mines and you don't take steps to apply for a new license before the 21st, you will be committing a punishable criminal offense if caught to be trading in gold after the 21st of May,” he concluded.