The Ghana Gold Board has extended the deadline for all small-scale mining companies and gold dealers to re-apply for their licences to May 21, 2025.

This follows the revocation of all previously issued gold trading licences by the former Precious Minerals Marketing Company (PMMC) and the Minister for Lands and Natural Resources.

The directive forms part of comprehensive reforms under the Ghana Gold Board Act (Act 1140), which aimed to strengthen regulation and oversight of the gold trade.

At a press briefing last Wednesday, the Acting Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, said the extension from April 30 to May 21, 2025, was to accommodate Ghanaian gold traders, giving them additional time to renew their gold trading licences and transitioned to the new regulatory framework.

“We gave all PMMC licence holders and holders of licences issued by the minister responsible for Mines an ultimatum, which expires today, 30th of April, to apply for new licences under the Ghana Gold Board Act,” he said.

He explained that per Section 78 of the Act, those licences had ceased to be valid.

“This extension is from today, April 30, 2025, to May 21, 2025—giving you an additional three weeks,” he added.

Mr Gyamfi said, “We are aware that most of you have not yet applied. From the backend of our website and licence application portal, we can see that while some of you have started the application process, you have not yet completed the application process,” he added.

He said that although a few applicants had completed their submissions, the Board had decided to grant an additional three weeks to ensure fairness.

“We believe this is fair and adequate for any serious applicant who intends to comply with the law and obtain a Gold Board licence,” he said.

Website

Mr Gyamfi urged applicants to visit the official website — goldbod.gov.gh — to complete the process, which includes paying an application fee, creating an account, and submitting accurately completed forms.

“Let me indicate again that if you want a licence, you must go to the website of the Gold Board, which is goldbod.gov.gh — and ‘goldbod’ is G-O-L-D-B-O-D, not B-O-A-R-D. Make sure you read the requirements and terms and conditions of the licence before you begin the process,” he added.

Mr Gyamfi assured the public that it had instituted a fast-track system to review applications ahead of the 60-day legal deadline to facilitate the smooth commencement of operations under the new regulatory regime.

“If you make serious omissions or errors in the application, it will go against you in terms of the decision that the Gold Board will take on that application,” he added.

Mr Gyamfi stressed that there would be no further extension beyond the new May 21 deadline.

“Any Ghanaian found trading in gold without a valid Gold Board licence after this date will be committing a criminal offence,” he warned. 

Cautioned

Mr Gyamfi warned both Ghanaian citizens and foreign nationals to comply with the Ghana Gold Board Act and all other relevant regulations governing gold trading in the country.

He specifically cautioned locals against acting as fronts for foreign nationals, stressing that such conduct was illegal and would be met with severe sanctions.

Mr Gyamfi reiterated that Ghanaians must not assist foreigners in unlawfully acquiring or operating gold trading businesses in Ghana.

Background

The Ghana Gold Board has instructed all small-scale mining firms and gold traders to renew their licences before the initial deadline of May 1, 2025.

Under the revised regulatory regime, the Ghana Gold Board is the exclusive legal body mandated to purchase, sell, assay and export gold from the artisanal and small-scale mining (ASM) sector in Ghana.

All gold transactions are required to be conducted in Ghana cedis, based on exchange rates published by the Bank of Ghana.

According to GoldBod, these reforms aimed to address gold smuggling, improve transparency and increase government revenue from the gold sector.