Gold sector welcomes extension of licensing deadline

By Kizito CUDJOE

The Chamber of Licensed Gold Buyers (CLGB) has welcomed the Ghana Gold Board’s (GoldBod) decision to extend the deadline for the transition to the new gold trading licence regime.

Under the revised directive, individuals and companies operating with licences previously issued by the defunct Precious Minerals Marketing Company (PMMC) and/or the Ministry of Lands and Natural Resources can continue doing business until 21st June, 2025. This marks a one-month extension from the earlier deadline of 21st May, 2025.

GoldBod announced the change after receiving multiple petitions from industry players and associations calling for more time to adjust to the new regulatory system.

“Upon consideration of several petitions from stakeholders,” the board said in a statement, “any person who holds a licence issued by the defunct PMMC and/or the Ministry… can continue to purchase and deal in gold with the said licences until 21st June, 2025.”

After this date, however, only entities licensed under the GoldBod regime will be legally allowed to buy, sell or trade in gold. The board emphasised that using licences issued under the old system beyond the new deadline would be in violation of the Ghana Gold Board Act, 2025 (Act 1140), and subject to sanctions.

In a further clarification, GoldBod stated that although applications for the new licence may still be submitted after the deadline, such applications will not confer the right to operate in the interim.

It also confirmed that from 22nd May, 2025, any export rights attached to licences issued by the Ministry of Lands and Natural Resources have ceased to be valid. Only GoldBod, as a corporate entity, retains the authority to export gold.

In response, the Chief Executive Officer of the CLGB, Kwaku Amoah, described the extension as a timely intervention.

This, he indicated, is not just about shifting a date. It gives legitimate operators the breathing space to align with the new framework without disrupting their businesses.

Mr. Amoah, in a statement welcoming the decision, added that the move “reflects a willingness on the part of GoldBod to listen to industry voices and work collaboratively toward a transparent and well-regulated gold trading environment”.

The CLGB has urged all licence holders to use the grace period to regularise their operations and ensure they meet the new requirements. It also expressed its readiness to work with GoldBod and other agencies to promote responsible and ethical mineral trading in Ghana.

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