GoldBod takes over ASM gold trade in Ghana; all PMMC licences to expire by 30 April
This sweeping change, guided by the newly passed Ghana Gold Board Act 2025 (Act 1140), establishes the GoldBod as the exclusive authority to buy, sell, assay and export gold produced by the licensed artisanal and small-scale mining (ASM) sector
The Ghana Gold Board (GoldBod) has formally announced the termination of all licences previously issued by the Precious Minerals Marketing Company (PMMC) and the minister responsible for mines, barring large-scale mining companies.
This sweeping change, guided by the newly passed Ghana Gold Board Act 2025 (Act 1140), establishes GoldBod as the exclusive authority to buy, sell, assay and export gold produced in the licensed artisanal and small-scale mining (ASM) sector.
In a statement dated 14 April 2025, GoldBod made it clear that from 1 May 2025 onwards, no individual or entity will be permitted to engage in trading gold in Ghana without a valid licence issued under the new act. It marks a significant restructuring of Ghana’s small-scale gold trade and export framework.
Transition period ends 30 AprilÂ
To allow for a smooth transition and to honour existing contracts, GoldBod will permit licensed gold buyers to continue operations under their existing PMMC or ministerial licences until 30 April 2025.
After this deadline, these licences will become invalid.
During the transition, all gold transactions are required to be conducted in Ghana cedis, based on the Bank of Ghana’s reference rate, available at www.bog.gov.gh.
New licensing begins 22 April
Ghanaians and Ghanaian-owned companies interested in continuing or entering the gold trade are encouraged to apply for a new licence from GoldBod beginning Tuesday 22 April 2025.
Applications can be submitted online through GoldBod’s soon-to-be-launched website or in person at GoldBod’s licensing and regulations office in Accra.
Foreign traders ordered to exit market
Under the reforms, all foreign nationals and companies currently involved in local gold trading must exit the market by 30 April 2025. However, foreigners may apply to GoldBod for permission to offtake gold directly from the board.
GoldBod cautioned that engaging in gold trading in Ghana without a new licence after 1 May 2025 will constitute an offence punishable under Act 1140.
The implementation of the Ghana Gold Board Act is aimed at tightening regulation, improving transparency and securing greater national benefit for Ghana from its thriving gold sector, particularly within the ASM space.
