The new law, which was passed by Parliament on March 29, 2025, and assented to by the President on April 2, 2025, renders all previously issued gold trading licenses, granted by the Precious Minerals Marketing Company (PMMC) or the Minister responsible for Mines, invalid.
In a statement issued by GoldBod on April 14, 2025, the general public was informed that, effective immediately, only the GoldBod is permitted to export ASM gold from Ghana.
Furthermore, only GoldBod or its licensed buyers, aggregators, or service providers are allowed to purchase or deal in gold in the country.
However, in a move to ensure a smooth transition and honor existing contractual obligations, the Ghana Gold Board has granted a temporary window allowing individuals or entities with valid PMMC or ministerial licenses to continue gold purchases and exports until April 30, 2025.
“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,” the statement read.
“Any Ghanaian or a fully-owned Ghanaian company whose license has ceased
to be valid and/or any Ghanaian who is desirous of dealing in gold, is encouraged to apply for a license under the Ghana Gold Board Act (ACT 1140), 2025 effective, Tuesday, April 22, 2025,” it added.
Additionally, applications can be submitted online via the GoldBod’s official website (to be launched on the same date) or physically at the GoldBod Licensing and Regulations office in Accra.
Foreigners ordered to exit local gold market
The statement also directed all foreigners involved in the local gold trading market to exit by April 30, 2025, warning that failure to comply will constitute a punishable offense under the new law. Foreign entities interested in purchasing gold may apply to buy directly from the GoldBod.
The Board stressed that effective May 1, 2025, it will be an offense for any person or entity to purchase or deal in gold in Ghana without a valid license issued by the Ghana Gold Board.
The move is part of the government’s broader efforts to tighten regulation within the gold trading sector, reduce smuggling, and ensure that Ghana fully benefits from its mineral resources.
