Ghana Extends Gold License Deadline for Small-Scale Miners & Traders to May 21, 2025
Ghana Announces Deadline Extension for Gold Trading Licenses Under New Regulatory Framework
In a major development for Ghana’s gold sector, the Ghana Gold Board (GoldBod) has extended the deadline for small-scale mining companies and gold dealers to apply for new trading licenses until May 21, 2025 . The move aims to streamline compliance with the Ghana Gold Board Act (Act 1140), which revokes all prior licenses issued by the Precious Minerals Marketing Company (PMMC) and the Ministry of Lands and Natural Resources.
Key Details of the License Extension
- Original Deadline: April 30, 2025
- New Deadline: May 21, 2025 (additional three weeks granted)
- Regulatory Authority: Ghana Gold Board (GoldBod)
- Affected Entities: Small-scale miners, licensed gold traders, and former PMMC license holders
The extension, announced by GoldBod Acting CEO Sammy Gyamfi during a press briefing on April 30, 2025, provides traders with critical time to transition to the new legal framework. Gyamfi emphasized that all pre-existing licenses expired definitively on April 30, per Section 78 of the Ghana Gold Board Act, mandating fresh applications under GoldBod’s oversight.
Why the Extension Matters for Ghana’s Gold Sector
The delay addresses concerns about low application completion rates among traders. Gyamfi revealed that while many had initiated the online process via GoldBod’s portal, few had finalized submissions. “This extension ensures fairness and allows serious applicants to meet compliance standards,” he stated, urging traders to prioritize licensing to avoid legal penalties.
Key Implications:
- Revoked Licenses: All PMMC and ministerial licenses are now invalid.
- Strict Compliance: Only GoldBod-licensed entities may legally trade gold in Ghana.
- Reform Goals: Act 1140 strengthens transparency, curbs illegal mining, and aligns Ghana’s gold trade with global standards.
Next Steps for Gold Traders
- Apply Immediately: Visit GoldBod’s official portal to submit applications before May 21, 2025.
- Verify Requirements: Ensure compliance with documentation, fees, and operational criteria.
- Avoid Penalties: Operating without a valid license risks fines, asset seizures, or criminal charges.
Statement from GoldBod Acting CEO Sammy Gyamfi
“We recognize that some traders face challenges adapting to the new system. However, this extension is a final opportunity to formalize operations. GoldBod remains committed to supporting legitimate players while enforcing accountability across the sector.”
Background: Ghana Gold Board Act (Act 1140)
Enacted to overhaul Ghana’s gold trade governance, Act 1140 establishes GoldBod as the sole regulatory authority for licensing, pricing, and export oversight. The law targets illicit practices, enhances revenue tracking, and promotes sustainable mining practices.
Call to Action:
Gold traders in Ghana must act swiftly to secure their licenses before the May 21, 2025, deadline. Visit [GoldBod’s official website] for application guidelines and updates.
