GoldBod Orders Foreigners Out of Ghana’s ASM Gold Trade by April 30
In a decisive move to localize Ghana’s artisanal and small-scale mining (ASM) gold trade, the Ghana Gold Board (GoldBod) has directed all foreign nationals and foreign-owned entities to cease operations in the domestic gold trading market by April 30, 2025.
Per a public statement issued by the state regulator on Monday, April 14, 2025, foreign entities may, however, apply to purchase or off-take gold directly from GoldBod under newly established guidelines.
The announcement forms part of a broader restructuring of Ghana’s ASM gold sector, as the GoldBod prepares to fully assume regulatory and operational authority over the buying, selling, assaying, and exportation of gold produced by licensed ASM operators in Ghana, effective May 1, 2025.
“All licenses previously issued by the Precious Minerals Marketing Company (PMMC) and/or the Minister responsible for Mines to persons or entities—other than large-scale mining companies—to deal in gold are no longer valid,” the GoldBod said in the statement.
“From 1st May, 2025, it shall constitute a punishable offense for any person to purchase or deal in gold in Ghana without a valid license issued by the Ghana Gold Board,” it stressed.
As part of the reforms, Ghanaian individuals and wholly-owned Ghanaian companies whose licenses have expired, or who wish to enter the gold trading market, are encouraged to apply for new licenses under the GoldBod Act, beginning Tuesday, April 22, 2025.
According to the GoldBod, only licensed buyers, aggregators, and certified service providers under the new regime will be permitted to engage in domestic gold trade.
The regulator says the move is geared towards plugging revenue leakages, curbing illegal gold exports, and addressing longstanding regulatory inefficiencies in the ASM gold value chain.
The GoldBod’s centralization of authority is expected to bring greater transparency and accountability to one of Ghana’s most lucrative but loosely regulated sectors.
