Renew licences before May 1 deadline – GoldBod to small-scale miners

The Ghana Gold Board (GoldBod) has issued an important notice. All small-scale mining companies and gold dealers must renew their licenses. The deadline for renewal is May 1, 2025. This follows the revocation of all previous gold trading licenses by the Precious Minerals Marketing Company (PMMC) and the Minister for Mines.

This directive does not apply to large-scale mining firms. It is part of reforms under the Ghana Gold Board Act (Act 1140). These reforms aim to improve regulation and oversight in the artisanal and small-scale mining (ASM) gold sector.

Zanaib Alhassan, Deputy Media Relations Officer of GoldBod, spoke on Citi FM’s Eyewitness News. She urged affected traders to follow the new licensing process. "All gold traders must abide by the rules in our press release," she said.

She added that the renewal period starts on April 22. Traders should remember to renew their licenses between April 22 and April 30 with GoldBod. "They should do their best to renew on time," she advised.

Alhassan emphasized that non-compliance will lead to sanctions. "It’s highly punishable by law," she warned. "You will cease operations if you fail to renew your license."

Under new guidelines, GoldBod is now the sole legal buyer, seller, assayer, and exporter of ASM gold in Ghana. All transactions must be conducted in Ghana cedis at rates set by the Bank of Ghana. These reforms aim to reduce smuggling, enhance transparency, and increase government revenue from this sector.