The Ghana Gold Board (GoldBod) has announced the suspension of the licence of Evanex Gold Enterprise, a licensed Tier 2 gold buyer, with immediate effect.

The decision, according to the regulator, follows adverse investigative findings against the company for engaging in illegal gold pricing, in breach of the terms and conditions of its licence.

In a press statement issued on Thursday, August 28, GoldBod directed all licensed traders, miners, and the general public to desist from conducting or engaging in any form of gold transaction with Evanex Gold Enterprise.

The suspension, it explained, is part of efforts to sanitise the gold trading sector and uphold industry standards.

“Notice is hereby given to all licensed traders, miners and the general public to desist from trading and/or engaging in any form of gold transaction with Evanex Gold Enterprise forthwith,” the statement read.

The regulator stressed that the findings were serious enough to warrant an immediate suspension, warning that further breaches by any operator would attract similar sanctions.

GoldBod reaffirmed its commitment to accountability and transparency in the management of Ghana’s gold sector.

It assured stakeholders that it would continue to enforce laws and regulations to ensure a fair, credible, and well-regulated gold trading environment across the country.