The Ghana Gold Board (GoldBod) has officially revoked all gold trading licenses previously issued by the Precious Minerals Marketing Company (PMMC) and the Ministry of Lands and Natural Resources.
Addressing journalists on Monday, June 29, the acting Chief Executive Officer of the GoldBod, Sammy Gyamfi, announced a renewed national crackdown on illegal gold trading and smuggling activities.
“If you are not licensed by the Ghana Gold Board, you are committing a crime if you buy gold or engage in any form of gold trading,” Mr Gyamfi declared.
He added, “We will no longer continue to respect the licenses issued under the old regime.”
He emphasized that previous permits issued by the PMMC or by the minister responsible for mines are no longer valid.
“That illegal regime has come to an end,” he said. “PMMC licenses or those issued by the ministry are not recognized under the current legal framework.”
Mr Gyamfi acknowledged that some traders may be unaware of the regulatory change.
He stressed, “Ignorance of the law is no excuse. For the last time, we are communicating to all stakeholders across the country to do the needful.”
Despite the revocation of old licenses, the GoldBod CEO reassured the public that applications for new licenses remain open without time restriction.
“We are not saying you cannot apply because the deadline has elapsed. Anyone who wants to trade in gold can apply for a Gold Board license at any time,” he noted.
He further pledged that all applications would be assessed with fairness and transparency and that licenses would be issued to qualified applicants who meet the required criteria.
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