The Ghana Gold Board (GoldBod) has announced regulatory changes to the artisanal and small-scale mining (ASM) gold sector following the passage of the Ghana Gold Board Act (Act 1140), 2025.
According to a press release dated April 14, all licenses previously issued by the Precious Minerals Marketing Company (PMMC) or the Minister responsible for Mines to individuals or companies excluding large-scale mining firms have been rendered invalid.
GoldBod is now the sole entity authorized to buy, sell, assay, and export ASM gold in the country.
Effective May 1, 2025, any person or entity seeking to deal in gold within Ghana must obtain a new license under the Ghana Gold Board Act.
The GoldBod will open its online and physical licensing application platforms on Tuesday, April 22, 2025.
Applicants can apply either through the forthcoming website or at the GoldBod Licensing and Regulations office in Accra, the statement reads.
As part of the transition, GoldBod has granted a grace period for currently licensed gold buyers and exporters to continue operations until April 30, 2025, to honour existing contractual obligations.
During this interim period, all local gold transactions must be conducted in Ghana cedis at rates based on the Bank of Ghana’s Reference Rate.
The statement also mandates that all foreigners involved in the local gold trading market must exit by April 30, 2025.
Foreign individuals or entities may, however, apply directly to GoldBod to purchase or off-take gold.
The release concludes with a strong warning “starting May 1, 2025, it will be a punishable offense to trade or deal in gold in Ghana without a GoldBod-issued license.”
The move is aimed at sanitizing the sector, curbing illegal activities, and streamlining Ghana’s gold trade through a centralized authority.
