The Ghana Gold Board (GoldBod) has officially assumed exclusive control over the buying, selling, assaying, and export of gold produced by the Artisanal and Small-Scale Mining (ASM) sector, following the passage of the Ghana Gold Board Act (Act 1140), 2025.
In a press statement released today, GoldBod, announced that all licenses previously issued by the Precious Minerals Marketing Company (PMMC) or the Minister responsible for Mines to individuals or entities—excluding large-scale mining companies—have been rendered invalid under the new law.
The Act, which was passed by Parliament on March 29, and assented to by the President on April 2, centralizes gold trading and exportation under the authority of the newly established GoldBod.
Exclusive Mandate and Transitional Measures
As per the new legal framework, GoldBod, is now the sole institution mandated to export ASM gold from Ghana. Only GoldBod, or its licensed buyers, aggregators, and service providers, are permitted to engage in the purchase or trade of gold within the country.
To ensure a smooth transition, GoldBod has granted a grace period until April 30, 2025. During this time, individuals and entities holding valid PMMC or ministerial licenses may continue to conduct gold purchases and exports.
“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,” the statement emphasized.
Licensing Framework and Application Process
Ghanaian individuals and fully-owned Ghanaian companies whose licenses have expired—or who wish to enter the gold trade—are encouraged to apply for a new license under the Ghana Gold Board Act beginning Tuesday, April 22, 2025.
Applications may be submitted online via the GoldBod website, which will go live on the effective date, or in person at the GoldBod Licensing and Regulations Office at the organization’s headquarters in Accra.
Foreign Participation in Gold Trade Prohibited
In a significant shift, all foreign nationals involved in local gold trading have been ordered to exit the market no later than April 30, 2025. However, foreigners may still apply to purchase or off-take gold directly from GoldBod under regulated conditions.
GoldBod also warned that starting May 1, 2025, it will be a criminal offense to trade or deal in gold in Ghana without a valid GoldBod-issued license.
Strict Enforcement Ahead
The media relations officer of GoldBod, Mr. Prince Kwame Minkah, who signed the statement, urged all stakeholders to comply with the new regulations to avoid legal repercussions.
“This reform is intended to bring structure, transparency, and accountability to Ghana’s ASM gold sector,” the statement concluded.
Further details and application procedures will be available on GoldBod’s official channels in the coming days.