In a major shift in Ghana’s gold trading regulations, the Ghana Gold Board (GoldBod) has been declared the sole legal entity authorized to buy, sell, assay, and export gold produced by the Artisanal and Small-Scale Mining (ASM) sector.
The change follows the passage of the Ghana Gold Board Act (Act 1140), 2025, which was approved by Parliament on March 29, 2025, and signed into law by the President on April 2, 2025.
As a result, all licenses previously issued by the Precious Minerals Marketing Company (PMMC) or the Minister responsible for Mines—except those held by large-scale mining companies—are no longer valid.
To ensure a smooth transition, GoldBod has granted a grace period allowing holders of existing PMMC or ministerial licenses to continue their gold purchases and exports until April 30, 2025. After this date, any dealings in gold without a GoldBod-issued license will be considered a punishable offense.
Under the new law:
- Only GoldBod, or entities licensed by it, may purchase or deal in gold within Ghana.
- All ASM gold exports must go through GoldBod.
- Purchases must be made in Ghana cedis and priced using the Bank of Ghana Reference Rate.
- Foreigners must exit the local gold trading market by April 30, unless applying to off-take gold directly from GoldBod.
Starting April 22, 2025, new license applications can be submitted online or in person at the GoldBod Licensing and Regulations Office in Accra.
The Ghana Gold Board emphasized that these reforms aim to streamline and regulate the gold trade, enhance transparency, and ensure greater national benefit from ASM activities.
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