New GoldBod Act Revokes Previous Licenses, Reshapes ASM Sector
The Ghana Gold Board (GoldBod) has directed all foreign nationals involved in the local gold trading market to exit the sector by April 30, 2025, following the enactment of the Ghana Gold Board Act (Act 1140).
The directive was announced in an official statement on April 14, citing the new law passed by Parliament on March 29 and assented to by President John Dramani Mahama on April 2. The law centralizes control of Ghana’s artisanal and small-scale mining (ASM) gold trade under the statutory authority of GoldBod.
According to the statement, all licenses previously issued by the Precious Minerals Marketing Company (PMMC) and the Minister responsible for Mines — excluding those granted to large-scale mining companies — are now null and void.
“All foreigners are hereby notified to exit the local gold trading market not later than 30th April, 2025,” said Prince Kwame Minkah, Public Relations Officer of GoldBod.
As part of the regulatory overhaul, GoldBod is now the sole buyer, seller, assayer, and exporter of gold produced by the ASM sector. However, foreign entities interested in doing business in Ghana’s gold market may still apply to transact directly with GoldBod under the new legal framework.
Source: ModernGhana