Business, Headlines, Politics

GoldBod Extends Deadline for Transition to New Gold Trading License Regime

Published on May 22, 2025
By Abdul Samed Issaka

The Ghana Gold Board (GoldBod) has announced a one-month extension for the transition to its new gold trading license regime. The previous deadline of May 21, 2025, has now been moved to June 21, 2025, following several petitions from stakeholders within the gold trading industry.

In a press statement signed by GoldBod’s Media Relations Officer, Prince Kwame Minkah, the Board indicated that licenses previously issued by the now-defunct Precious Minerals Marketing Company (PMMC) and the Ministry of Lands and Natural Resources will remain valid until the new deadline. This means license holders under the old regime can continue to purchase and deal in gold until June 21.

However, GoldBod stressed that after this new, non-extendable deadline, only individuals and entities with a valid GoldBod license will be permitted to trade or deal in gold in the country. The use of any license issued by the defunct PMMC or the Ministry beyond the June 21 deadline will be considered illegal and punishable under the Ghana Gold Board Act, 2025 (Act 1140).

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Despite the deadline extension for gold trading, the statement noted that, effective immediately—May 22, 2025—licenses issued by the Ministry of Lands and Natural Resources no longer carry the right to export gold. From this date, only GoldBod, as a corporate body, is authorized to export small-scale gold from Ghana.

GoldBod urged all individuals and companies interested in trading gold to apply for a new license through their official website: www.goldbod.gov.gh. The licensing process, according to the Board, is ongoing and will remain open after the June deadline. However, no unlicensed person will be allowed to engage in gold trading after June 21.

The statement concluded with a call for cooperation from all stakeholders and the general public in the collective effort to optimize the national benefits from Ghana’s gold resources. This initiative, GoldBod says, aligns with the vision of President John Dramani Mahama to streamline the gold sector and enhance revenue generation for national development.