All gold trading licences issued by PMMC nullified - GoldBod announces

The Ghana Gold Board (GoldBod) has announced major changes to gold trading. This follows the Ghana Gold Board Act (Act 1140), passed in 2025.

Parliament approved the law on March 29, 2025. The President signed it on April 2, 2025. The law cancels all licenses issued by the Precious Minerals Marketing Company (PMMC). It also revokes licenses from the Minister of Mines, except for large-scale mining companies.

GoldBod clarified that all other licenses are no longer valid. From now on, GoldBod is the only body allowed to buy, sell, assay, and export gold from Artisanal and Small-Scale Mining (ASM).

The statement emphasized that only GoldBod can export ASM gold from Ghana. No one else may purchase or trade in gold without a license from GoldBod.

This restructuring aims to improve transparency and compliance in the local gold market. To ensure a smooth transition, GoldBod will temporarily honor existing PMMC or Minister-issued licenses until April 30, 2025.

During this time, all transactions must be in Ghana cedis. Prices should follow the Bank of Ghana’s Reference Rate.

All licensed buyers must conduct transactions in Ghana cedis. Ghanaians with lapsed licenses can apply for new ones starting April 22, 2025. They can apply online or at GoldBod’s headquarters in Accra.

Foreign participants must exit the local gold trading market by April 30, 2025. They can still apply to buy gold directly from GoldBod but cannot operate within the local value chain.

Starting May 1, 2025, it will be illegal to deal in gold without a license from GoldBod. Violators will face penalties for non-compliance.