The Ghana Gold Board has announced that, following the enactment of the new Ghana Gold Board Act (Act 1140), all existing gold trading licenses issued by the Precious Minerals Marketing Company (PMMC) or the Minister of Mines are no longer valid—except for those held by large-scale mining companies.
This change comes after Parliament passed the Ghana Gold Board Act on March 29, 2025, which was assented to by the President on April 2, 2025.
Under the new law, the Ghana Gold Board is now the sole authority responsible for the purchase, sale, assaying, and export of gold from the artisanal and small-scale mining sector.
A grace period has been granted until April 30, 2025, allowing current license holders to continue operations while transitioning to the new regulatory framework.
Ghanaian individuals and companies may begin applying for new licenses starting April 22, 2025. However, all foreign nationals currently operating in the local gold trading market must exit by April 30, 2025.
Beginning May 1, 2025, trading or dealing in gold without a valid Ghana Gold Board license will constitute a criminal offense.
To accommodate existing agreements, the Ghana Gold Board has announced that licensed gold buyers may continue purchasing and exporting gold until April 30, 2025.
“For now, all licensed gold buyers must purchase gold in Ghana cedis, using a price based on the Bank of Ghana’s Reference Rate, available at www.bog.gov.gh,” the statement said.
The Ghana Gold Board added: “Ghanaians and fully-owned Ghanaian companies can apply for a new license to deal in gold under the Ghana Gold Board Act (Act 1140), starting April 22, 2025. This opportunity is open to those whose licenses have expired or anyone interested in entering the gold trade.”
