Renew licences before May 1 deadline – GoldBod to small-scale miners
The Ghana Gold Board (GoldBod) has advised all small-scale mining companies and gold dealers to renew their licenses ahead of the May 1, 2025, deadline, following the revocation of all previously issued gold trading licenses by the Precious Minerals Marketing Company (PMMC) and the Minister for Mines.
The directive, which excludes licenses held by large-scale mining firms, is part of sweeping reforms under the Ghana Gold Board Act (Act 1140), aimed at tightening regulation and oversight of the artisanal and small-scale mining (ASM) gold sector.
Speaking in an interview on Citi FM’s Eyewitness News with Umaru Sanda Amadu on Monday, April 14, Zanaib Alhassan, Deputy Media Relations Officer of GoldBod, urged all affected traders to comply with the new licensing process.
“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.
She added, “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.”
Zanaib Alhassan emphasized that anyone who fails to comply with the directive will be sanctioned in accordance with the law
“It’s highly punishable by law. You cease to operate if you fail to renew your license.”
Under the new guidelines, GoldBod becomes the sole legal buyer, seller, assayer, and exporter of ASM gold in Ghana, with all transactions required to be conducted in Ghana cedis using rates provided by the Bank of Ghana. The reforms are part of efforts to curb smuggling, enhance transparency, and increase government revenue from the sector.
