The Ghana Gold Board (GoldBod) has announced a significant regulatory overhaul in the artisanal and small-scale mining (ASM) gold trade sector. Effective immediately, all existing gold trading licenses issued by the Precious Minerals Marketing Company (PMMC) or the Minister for Mines, except those held by large-scale mining companies, are no longer valid
This move is grounded in the Ghana Gold Board Act (Act 1140), passed by Parliament on March 29 and assented to by the President on April 2, 2025. With this new law, GoldBod becomes the sole legal buyer, seller, assayer, and exporter of all gold produced by licensed ASM operators in Ghana. “No person other than the Ghana Gold Board is permitted to export ASM gold from Ghana,” the statement emphasized.
Existing license holders have until April 30, 2025, to continue operations. After this date, dealing in gold without a GoldBod-issued license will be a punishable offense. All licensed local gold buyers are also required to trade exclusively in Ghana cedis, using exchange rates referenced on the Bank of Ghana’s website.
Foreigners involved in local ASM gold trading must exit the market by April 30, 2025. However, they may apply to purchase gold directly from GoldBod under regulated conditions. Ghanaians and fully Ghanaian-owned companies can apply for new licenses starting April 22, 2025, either online or in person at the GoldBod Licensing and Regulations office in Accra.
“It is worthy of note that it shall constitute a punishable offense for a person to purchase or deal in gold in the country without a license issued by the Ghana Gold Board, effective 1st May, 2025,” the statement added.
This regulatory overhaul aims to enhance transparency, remove illicit actors, and boost government revenue from Ghana’s vibrant ASM gold sector, which accounts for over 30% of the nation’s gold output.
