The Chamber of Licensed Gold Buyers (CLGB) is commending the Ghana Gold Board (GOLDBOD) for extending the deadline for the transition to the new gold trading license regime.

It follows several petitions from stakeholders across the gold trading value to reschedule the initial date of May 21, 2025, to a later date.

The GOLDBOD subsequently agreed to extend the deadline to a month later – June 21, 2025.

The new directive now permits individuals and entities holding licenses previously issued by the defunct Precious Minerals Marketing Company (PMMC) and the Ministry of Lands and Natural Resources to continue operating under the existing framework.

Chief Executive of the CLGB, Kwaku Amoah, says the GOLDBOD’s new decision emphasizes its commitment to an inclusive stakeholder engagement and participatory governance for sustainable growth of the industry.

“The Chamber sees this extension not merely as a date adjustment, but as a strategic window that allows license holders to properly align with the revised regulatory framework without compromising operational continuity,” he noted.

Mr. Amoah is confident such continued collaborations between the government and the local licensed buyers could foster industry confidence and build a more transparent and robust gold trading industry.

"We commend the Ghana Gold Board for demonstrating that it is a responsive and listening institution. This extension reflects the Board's willingness to collaborate with stakeholders and its dedication to ensuring an inclusive and smooth transition process. It fosters industry-wide confidence and paves the way for a more structured, transparent, and robust gold trading ecosystem."

The Chamber is charging its members to harness the extended deadline opportunity to immediate reapply for a new license under the existing gold trading framework.

“The CLGB urges all license holders and sector participants to utilize this extended period effectively to regularize their operations and ensure full compliance with the updated licensing requirements,” he said.

The Chamber reiterated its readiness to work closely with the GOLDBOD and other relevant authorities to safeguard the integrity of Ghana’s gold trading industry and promote responsible, legal, and ethical mineral trading practices.