GoldBod takes over ASM gold trade, invalidates previous licenses

The Ghana Gold Board (GoldBod) has announced sweeping changes to the regulation of gold trading in Ghana, following the passage of the Ghana Gold Board Act, 2025 (Act 1140).

According to the new law, all licences previously issued by the Precious Minerals Marketing Company (PMMC) or the Minister responsible for Mines to individuals or companies—other than large-scale mining firms—to deal in gold are no longer valid.

The Act, passed by Parliament on March 29, 2025, and assented to by the President on April 2, 2025, places GoldBod as the exclusive authority for the buying, selling, assaying, and export of all gold produced by the licensed Artisanal and Small-Scale Mining (ASM) sector.

“No person other than the Ghana Gold Board (GoldBod) is permitted to export ASM gold from Ghana,” a statement signed by Prince Kwame Minkah, Media Relations Officer at GoldBod, emphasized in a statement on Monday, April 14.

“Also, no person other than the GoldBod or a licensed buyer or aggregator or service provider of the GoldBod is permitted to purchase or deal in gold in the country,” the statement added.

To ease the transition and uphold existing contractual agreements, the Gold Board is allowing entities that currently hold licenses from the PMMC or the Minister responsible for Mines to continue purchasing and exporting gold until April 30, 2025.

In the interim, all gold purchases on the local market must be made in Ghana cedis, at a price calculated using the Bank of Ghana Reference Rate published on the central bank’s website.

Ghanaian individuals or fully Ghanaian-owned companies whose licences have expired—and those interested in dealing in gold—are encouraged to apply for a new licence under the GoldBod Act beginning Tuesday, April 22, 2025.

Applications may be submitted online via the GoldBod website, or in person at the Licensing and Regulations Office at the agency’s head office in Accra.

The GoldBod has also directed all foreigners involved in local gold trading to exit the market by April 30, 2025. Foreigners may, however, apply to purchase or off-take gold directly from the GoldBod.

Effective May 1, 2025, it will be a criminal offence to engage in gold trading in Ghana without a licence issued by the Ghana Gold Board.