The Chamber of Licensed Gold Buyers (CLGB) has expressed support for the Ghana Gold Board’s (GoldBod) decision to extend the deadline for transitioning to the new gold trading licence regime.
According to the revised directive, individuals and companies operating under licences previously issued by the now-defunct Precious Minerals Marketing Company (PMMC) or the Ministry of Lands and Natural Resources may continue trading until 21st June 2025.
This represents a one-month extension from the original deadline of 21st May 2025.
GoldBod announced the extension in response to numerous petitions from stakeholders and industry associations requesting additional time to adapt to the new regulatory framework.
“Upon consideration of several petitions from stakeholders,” the board said in a statement, “any person who holds a licence issued by the defunct PMMC and/or the Ministry… can continue to purchase and deal in gold with the said licences until 21st June, 2025.”
The Board emphasized that continuing to operate under licences issued by the former regime beyond the cutoff date would constitute a violation of the Ghana Gold Board Act, 2025 (Act 1140) and will attract sanctions.
GoldBod further clarified that while applications for new licences may still be submitted after the deadline, applicants will not be allowed to operate during the processing period. As of 22nd May 2025, all export rights associated with licences previously granted by the Ministry of Lands and Natural Resources are no longer valid. The sole authority to export gold now rests with GoldBod as a corporate entity.
Reacting to the development, Kwaku Amoah, Chief Executive Officer of the Chamber of Licensed Gold Buyers (CLGB), welcomed the extension, calling it a necessary and strategic move.
“This isn’t just about extending a deadline—it’s about giving legitimate operators the time to adapt without facing operational disruption,” Mr. Amoah stated. He praised GoldBod’s decision as “a clear sign of its commitment to engaging stakeholders and fostering a transparent, well-regulated gold trading environment.”
The CLGB has encouraged all licence holders to use the grace period to regularize their operations in line with the new regulatory standards. It also reaffirmed its readiness to collaborate with GoldBod and other relevant agencies to promote ethical, responsible mineral trading in Ghana.
