The Ghana Gold Board (GoldBod) has given all small-scale mining companies and gold dealers until May 1, 2025, to renew their licenses. This comes after the Minister for Mines and the Precious Minerals Marketing Company (PMMC) revoked all previously issued gold trading licenses.
The directive, which does not include licenses held by large-scale mining firms, is part of sweeping reforms under the Ghana Gold Board Act (Act 1140), which aim to tighten regulation and oversight of the artisanal and small-scale mining (ASM) gold sector. In a recent interview on Citi FM on Monday, April 14, Zanaib Alhassan, Deputy Media Relations Officer of GoldBod, urged all affected traders to adhere to the new licensing procedure.
“All gold traders are supposed to abide by the rules and regulations in the press release GoldBod is expected from them. They have to stick by the rules and regulations in the statement. GoldBod is an offshoot of PMMC.
“As stated in the press release, it begins on April 22. They should have it at the back of their minds that the April 22 to April 30, they are going to renew their licenses with the new company called GoldBod. They should just go and get their licenses done. They should try their best and renew their licenses when the time is due.”
Under the new guidelines, GoldBod becomes the only authorized buyer, seller, assayer, and exporter of ASM gold in Ghana, with all transactions having to be conducted in Ghana cedis using rates provided by the Bank of Ghana.
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Zanaib Alhassan stated that anyone who does not follow the directive will be sanctioned in accordance with the law, and those who do not comply cease to operate. The reforms are part of efforts to increase government revenue from the sector, improve transparency, and curb smuggling.
Credit: Citi FM, Accra
