The Chamber of Licensed Gold Buyers (CLGB) has commended the Ghana Gold Board (GOLDBOD) for extending the deadline for license transition.

In a press statement, the gold buyers expressed appreciation to the GOLDBOD for responding positively to the numerous petitions from stakeholders across the gold trading value chain by extending the deadline for the transition to the new gold trading license regime.

The new directive now permits individuals and entities holding licenses previously issued by the defunct Precious Minerals Marketing Company (PMMC) and/or the Ministry of Lands and Natural Resources to continue operating under the existing framework until June 21, 2025, an extension from the initially announced deadline of May 21, 2025.

This decision by the GOLDBOD is a testament to the Board's commitment to stakeholder engagement, participatory governance, and the sustainable growth of Ghana’s gold trading sector. The Chamber sees this extension not merely as a date adjustment, but as a strategic window that allows license holders to properly align with the revised regulatory framework without compromising operational continuity,  the statement signed by Kwaku Amoah, Chief Executive Officer of the Chamber of Licensed Gold Buyers indicated.

"We commend the Ghana Gold Board for demonstrating that it is a responsive and listening institution. This extension reflects the Board's willingness to collaborate with stakeholders and its dedication to ensuring an inclusive and smooth transition process. It fosters industry-wide confidence and paves the way for a more structured, transparent, and robust gold trading ecosystem," he indicated.

The CLGB urges all license holders and sector participants to utilize this extended period effectively to regularize their operations and ensure full compliance with the updated licensing requirements, he added.

"We reiterate our readiness to work closely with the GOLDBOD and other relevant authorities to safeguard the integrity of Ghana’s gold trading industry and promote responsible, legal, and ethical mineral trading practices."