The Ghana Gold Board (GoldBod) has announced an extension of the deadline for transitioning to the new gold trading license regime from May 21 to June 21, 2025.
In a press statement issued today, GoldBod clarified that this extension allows additional time for traders who previously held licenses from the Precious Minerals Marketing Company (PMMC) or the Ministry of Mines to transition to the new system established by the Ghana Gold Board Act (Act 1140).
“The deadline extension notwithstanding, the use of a license issued by the defunct PMMC and/or the Ministry of Lands and Natural Resources to deal in gold is hereby prohibited beyond the new non-extendable deadline of 21st June, 2025.”
Ghana Gold Board (GoldBod)
The extension follows multiple petitions from stakeholders requesting additional time to comply with the new regulatory framework introduced under the Ghana Gold Board Act, 2025 (Act 1140).
However, post-June 21, only holders of a GoldBod-issued license will be legally permitted to operate in Ghana’s gold trading ecosystem.
In a significant regulatory shift, GoldBod also declared that, effective immediately, no individual or entity other than the Ghana Gold Board itself can export gold produced from the small-scale mining sector.
This applies even to those holding valid licenses for gold trading under the former regulatory institutions.
“The export function of licenses issued by the Ministry of Lands and Natural Resources has ceased to be valid, effective today, 22nd May 2025.
“Accordingly, no person other than GoldBod as a corporate entity can export small-scale gold from Ghana.”
Ghana Gold Board (GoldBod)
This directive is aimed at consolidating gold export functions to enhance transparency, traceability, and national benefit from Ghana’s mineral resources, which are estimated to be worth trillions of dollars.
Goldbod Expects Strict Compliance
While the license application process remains open indefinitely, GoldBod made it clear that failure to secure a GoldBod license by June 21, 2025, would render any subsequent gold trading activity illegal.
“Even though a person may apply for a GoldBod license beyond the new non-extendable deadline of 21st June, 2025, only holders of a GoldBod license will be allowed to purchase, sell or deal in gold after this date.”
Ghana Gold Board (GoldBod)
Any breach of this directive will constitute a punishable offense under Act 1140, underscoring the Board’s intent to enforce compliance rigorously.
The GoldBod’s licensing overhaul is part of a broader national strategy to curb gold smuggling, enhance revenue generation, and strengthen Ghana’s control over its natural resources. It forms a cornerstone of President John Dramani Mahama’s economic revitalization agenda.
“The GoldBod counts on the cooperation of all stakeholders and the general public as we work to optimize national benefits from Ghana’s gold resources in line with the vision of President John Dramani Mahama.”
Ghana Gold Board (GoldBod)
Applicants interested in obtaining a new gold trading license are encouraged to apply via the Board’s official website: www.goldbod.gov.gh.
The Board has reiterated that the application process is ongoing, but trading without a GoldBod-issued license after June 21, 2025, will be illegal and subject to prosecution.
The Ghana Gold Board was established under the Ghana Gold Board Act, 2025, as the sole regulator and corporate body responsible for the purchase, marketing, and export of gold from Ghana’s small-scale mining sector.
The move aims to consolidate oversight functions previously split across multiple entities, streamline gold trade regulation, and increase Ghana’s share of global gold revenues.
The formation of GoldBod and the exclusive export mandate represent a bold step in correcting systemic inefficiencies that allowed significant foreign exchange leakages through informal trading channels.
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