The Ghana Gold Board (GoldBod) has extended the deadline for transitioning to its newly instituted gold trading license regime from May 21 to June 21, 2025.
The decision follows mounting pressure and multiple petitions from stakeholders in the gold trading ecosystem, requesting more time to comply with the updated regulatory framework.
In a statement signed by Prince Kwame Minkah, Media Relations Officer at GoldBod, the agency emphasized that this one-month extension is final and non-negotiable.

Old licenses valid until June 21
Under the revised directive, existing licenses issued by the now-defunct Precious Minerals Marketing Company (PMMC) and the Ministry of Lands and Natural Resources remain valid for local transactions until the new June deadline.
However, GoldBod has revoked all export privileges previously attached to those licenses effective immediately.
This means that, as of May 22, 2025, only GoldBod has the legal authority to export small-scale gold from Ghana. “Only holders of a GoldBod license will be allowed to purchase, sell, or deal in gold after June 21, 2025.
The use of licenses issued by the defunct PMMC or the Ministry of Lands and Natural Resources will be prohibited beyond this date,” the statement said.
Any breach of this directive, the agency warned, will be treated as an offence under the Ghana Gold Board Act, 2025 (Act 1140).

GoldBod outpaces PMMC legacy
GoldBod’s operational transformation from the PMMC has not only altered governance but also dramatically improved performance metrics.
According to data made public by the agency, gold procurement volumes have surged significantly since the beginning of 2025.
In January, GoldBod purchased 6.17 tonnes of gold valued at $506 million, averaging 1.54 tonnes weekly.
February saw a slight increase to 6.55 tonnes worth $571 million (1.63 tonnes per week), while March purchases reached 7.81 tonnes valued at $699 million (1.95 tonnes weekly).
By April, monthly procurement jumped to 9.2 tonnes at a staggering value of $889 million—averaging 2.3 tonnes each week.
These figures more than double the volumes PMMC handled during similar periods in 2023 and 2024, indicating a sharp turnaround in efficiency and output.

Interbank rate replaces black market pricing
A key development in the new regime is GoldBod’s use of the interbank rate to purchase gold—marking a departure from previous practices that relied on the volatile black-market rate. This shift aligns with the Bank of Ghana’s ongoing domestic gold purchase programme, designed to improve transparency and bolster foreign reserves.
Analysts say this pricing reform not only ensures fairer compensation for small-scale miners but also supports broader efforts to stabilise the local currency and reduce external vulnerabilities.

GoldBod urges prompt compliance
GoldBod is encouraging all dealers, traders, and stakeholders to apply for or complete their GoldBod license registration via its official website: www.goldbod.gov.gh. While the application process will remain open beyond the June 21 deadline, the agency has made it clear that no individual or entity will be permitted to trade in gold after that date without a valid GoldBod license.
The agency also reaffirmed its commitment to stakeholder engagement, urging continued cooperation during this transitional phase.
“We are undertaking these reforms to safeguard the national interest, promote transparency, and bring accountability to the gold sector,” the statement concluded.

A new era in Ghana’s gold trade
With a centralised regulatory framework, modern procurement practices, and increasing operational capacity, GoldBod appears poised to redefine gold trading in Ghana.
As the June 21 deadline looms, the industry faces a turning point—one that promises structure, stability, and stronger contributions to national development, if properly implemented and enforced.