The Ghana Gold Board (GoldBod) has noted that it will not grant a grace period to reapply for a valid GoldBod license after its June 21 deadline.

Speaking at a meeting with the Chamber of Licensed Gold Buyers, GoldBod's Acting Chief Executive Officer (CEO), Sammy Gyamfi, stated that anyone who flouts the directive will be sanctioned.

“We should be able to sustain this for the betterment of our people. We are not going to relent on that, and anybody who becomes a standing block will be dealt with in accordance with the laws of Ghana. So, kindly encourage your members to play by the rules; apply for a licence, then you can trade in gold,” he said.

Goldbod had earlier directed gold traders with outdated licences to renew before May 21.

In a statement announcing the revised date, GoldBod noted that "even though a person may apply for a GoldBod license beyond the new non-extendable deadline of 21st June, 2025, only holders of a GoldBod license will be allowed to purchase, sell or deal in gold after this date."

The use of a license issued by the defunct PMMC and/or the Ministry of Lands and Natural Resources to deal in gold is hereby prohibited beyond the new non-extendable deadline of June 21.

A breach of this directive shall constitute a punishable offense under the Ghana Gold Board Act, 2025 (ACT 1140).

At a press briefing held on Wednesday, April 30, acting Chief Executive Officer of Goldbod, Sammy Gyamfi, stated that the May 21 deadline will not be extended; however, this decision has been rescinded.

“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," he said.

He revealed 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.

“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 said.

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

Applicants have been advised to pay 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.

Goldbod will oversee the gold sector, tackle illegal trade, and promote responsible sourcing in line with global standards such as the London Bullion Market Association (LBMA) certification.

The Minister for Finance, Dr Cassiel Ato Forson, has established the newly constituted Board of Directors of the Ghana Gold Board (GoldBod).

Dr Forson extended President John Dramani Mahama's congratulations to the 13-member board led by Mr Kojo Fynn.

The sector minister also called on the board to deliver their mandate and enhance the country's gold trade, ensure transparency in dealing, and aid the government's economic recovery efforts.