The Ghana Gold Board (GoldBod) has officially taken over exclusive control of the buying, selling, assaying, and export of gold produced by the Artisanal and Small-Scale Mining (ASM) sector, following the enactment of the Ghana Gold Board Act (Act 1140) in April 2025.
In a press statement dated April 14, 2025 and issued by the new GoldBod on Monday afternoon, this legislative change renders all licenses previously issued by the Precious Minerals Marketing Company (PMMC) or the Minister responsible for Mines to individuals or entities, excluding large scale mining companies invalid as of April 2, 2025.
“All licenses issued by the Precious Minerals Marketing Company (PMMC) and/or the Minister responsible for Mines to a person other than a large scale mining company to deal in gold, have ceased to be valid”.
To facilitate a smooth transition, GoldBod has allowed existing license holders to continue operations until April 30, 2025.
Effective May 1, 2025, only GoldBod and its licensed buyers, aggregators, or service providers are authorized to purchase or deal in gold within Ghana.
“It is worthy of note, that it shall constitute a punishable offense for a person to purchase or deal in gold in the country without a license issued by the Ghana Gold Board, effective 1st May, 2025.”
Additionally, all gold transactions must be conducted in Ghana cedis, with pricing based on the Bank of Ghana Reference Rate.
“For the time being, all licensed persons or entities buying gold from the local market must do so in Ghana cedis and at a price calculated based on the Bank of Ghana Reference Rate published on www.bog.gov.gh.”
Ghanaian individuals or wholly-owned Ghanaian companies whose licenses have expired or those seeking to engage in gold trading are encouraged to apply for a GoldBod license starting April 22, 2025.
Applications can be submitted online via the GoldBod website or in person at the GoldBod Licensing and Regulations office in Accra.
Foreign nationals involved in local gold trading are required to cease operations and exit the market by April 30, 2025.
However, foreigners may apply to GoldBod to purchase or off-take gold directly from the Board.
Engaging in gold trading without a valid GoldBod license after May 1, 2025, will constitute a punishable offense.
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