Evanex Gold Enterprise, a licensed Tier 2 gold buyer, has had its license suspended with immediate effect by the Ghana Gold Board (GoldBod).
The regulator claims that the decision comes after unfavorable investigative results against the business for engaging in unlawful gold pricing, which violated the terms and conditions of its license.
GoldBod instructed all authorized dealers, miners, and members of the public to refrain from doing or participating in any kind of gold transaction with Evanex Gold in a press release released on Thursday, August 28.
It clarified that the suspension is a component of measures to maintain industry standards and sanitize the gold trading industry.
“Notice is hereby given to all licensed traders, miners and the general public to desist from trading and/or engaging in any form of gold transaction with Evanex Gold Enterprise forthwith,” the statement read.
The regulator warned that any additional violations by any operator would result in comparable penalties, emphasizing that the findings were severe enough to justify an immediate suspension.
GoldBod reiterated its dedication to openness and responsibility in the administration of Ghana’s gold industry.
It gave stakeholders the assurance that it will keep up its enforcement of laws and rules to guarantee a legitimate, equitable, and well-run gold trading environment nationwide.
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