GoldBod Annuls All PMMC-Issued Gold Licences
Ghana’s Gold Board (GoldBod) has officially revoked all gold trading licences previously issued by the Precious Minerals Marketing Company (PMMC) and the Ministry of Lands and Natural Resources, in a sweeping regulatory reset aimed at combating illegal gold trading and smuggling.
Speaking at a press briefing on Monday, June 30, Acting Chief Executive Officer of GoldBod, Sammy Gyamfi, announced that only licences issued under the authority of the Gold Board will henceforth be legally recognised.
“We will no longer continue to respect the licences issued under the old regime,” Mr Gyamfi said, describing prior permits granted by PMMC or the sector minister as “invalid” under the country’s current legal framework. “That illegal regime has come to an end.”
The decision forms part of a broader national enforcement drive targeting illicit gold flows, which continue to undermine state revenues and regulatory oversight in the mining sector. Ghana, Africa’s top gold producer, has struggled to curb the activities of unauthorised traders and smuggling networks that operate outside the formal economy.
Mr Gyamfi acknowledged that a number of actors may be unaware of the regulatory shift but maintained that “ignorance of the law is no excuse,” urging all stakeholders to regularise their operations without delay.
“Anyone who wants to trade in gold can apply for a Gold Board licence at any time,” he stated, adding that there is no fixed deadline for applications. He assured that all submissions would be subject to transparent and merit-based assessment.
The Gold Board, established to streamline regulation and enhance accountability in Ghana’s gold trading ecosystem, is expected to play a central role in enforcing compliance and formalising the value chain.
The revocation of legacy licences marks a significant step in Ghana’s ongoing reforms to formalise its mineral sector and align with international best practices on resource governance and anti-money laundering.
