Goldbod Takes Full Control Of Gold

Sammy Gyamfi

 

The Ghana Gold Board (GoldBod) has officially taken full control of the country’s artisanal and small-scale gold trade, following the passage of the Ghana Gold Board Act, 2025 (Act 1140).

The law, passed by Parliament on March 29 and assented to by the President on April 2, 2025, mandates GoldBod as the sole authority in the buying, selling, assaying, and export of gold from the Artisanal and Small-Scale Mining (ASM) sector.

In a statement issued yesterday, GoldBod stated that all licenses previously granted by the Precious Minerals Marketing Company (PMMC) or the Minister responsible for Mines—except those issued to large-scale mining companies—are no longer valid under the new law.

The statement, signed by Prince Kwame Minkah, the Media Relations Officer, indicated that as the central body now overseeing Ghana’s ASM gold trade, GoldBod alone is authorised to export gold from the country.

According to the release, no individual or entity, apart from GoldBod or its licensed buyers, aggregators, or service providers, is permitted to purchase or deal in gold.

To ease the transition, the statement said GoldBod had made provisions for existing license holders under PMMC or the Ministry to continue operating until April 30, 2025.

“All purchases during this period must be made in Ghana Cedis and priced using the Bank of Ghana Reference Rate available at www.bog.gov.gh,” the statement noted.

It said Ghanaians wishing to continue in the gold trade, or those whose licenses have lapsed, are encouraged to apply for new licenses under the GoldBod regime beginning Tuesday, April 22, 2025.

Applications can be submitted online via the GoldBod website (to be activated on the effective date) or in person at the Licensing and Regulations Office in Accra, the statement added.

The GoldBod also ordered all foreign nationals currently trading in the local gold market to exit by April 30, 2025.

However, foreigners may apply to off-take gold directly from GoldBod, the statement further said.

It pointed out that effective May 1, 2025, dealing in gold without a valid GoldBod-issued license will constitute a criminal offence.

The GoldBod said the new measures are aimed at enhancing transparency, curbing illegal trading, and ensuring Ghana derives maximum benefit from its mineral wealth.

 

By Ernest Kofi Adu

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