PMMC transforms into GoldBod following passage of GoldBod Bill

The Precious Minerals Marketing Company (PMMC) has officially become the Ghana Gold Board (GoldBod). This change follows the passage of the GoldBod Bill, 2025, by Parliament. The bill was approved during a late-night session at 3:10 a.m. The Minority walked out in protest of the bill.

This transition marks a significant shift in Ghana’s gold sector. PMMC, now GoldBod, will have an expanded mandate and enhanced regulatory powers. The goal is to streamline gold trade and boost value addition. It also aims to tackle gold smuggling with help from state security agencies.

Before this change, the Acting Managing Director discussed PMMC's history. The company started as the Ghana Diamond Marketing Board in 1965 under Legislative Instrument (LI) 401. It became the Diamond Marketing Corporation in 1972 under NRC Decree 32. In 1989, it was renamed Precious Minerals Marketing Corporation (PMMC). In 2000, it was restructured into a limited liability company under Act 461.

With the new GoldBod Bill, GoldBod will be Ghana's sole gold exporter. This structure is expected to improve regulation of gold production from large-scale mining companies. It will also promote responsible sourcing in small-scale mining.

A key part of GoldBod's role includes reviewing valuation and fee systems. This ensures consistency, fairness, and revenue assurance for all stakeholders. While there are new policy shifts, the company's core mandate remains unchanged.

The restructuring aims to enhance operational capacity and create jobs. It positions GoldBod as a leading player in global gold trade while aligning with international best practices. The Acting Managing Director emphasized that GoldBod will formalize small-scale mining practices and ensure traceability of gold to reduce illegal activities.

This change is viewed as a strategic move to maximize benefits from Ghana’s rich mineral resources.