The Precious Mineral Marketing Company (PMMC) is calling on all stakeholders to corporate fully with government for the successful implementation of the gold-for-oil policy which begins this month.

The policy which includes using the country’s gold resources to exchange for oil has been seen as a good initiative that will reduce pressure on the demand for dollars from bulk oil distributors.

The PMMC in a circular has also directed all gold dealer firms to look out for its regional offices and sell their products that are above 5 kilogrammes.

In the case of license holders who have prior existing contractual obligations to supply gold outside Ghana, they are required to write to the PMMC with evidence of the contractual obligations and such companies shall be assisted to discharge those obligations.

For the purposes of the implementation of the gold-for-oil policy, the PMMC is entreating all persons who wish to sell to the agency shall be required to deliver their gold in whole bars of 5 kilogramme at any of the PMMC offices either at Patasi in Kumasi in the Ashanti region or Accra at the Diamond House where the bars will be assayed and payment effected on the spot.

Any trader with gold below the 5 kilogramme threshold shall be required to sell to any of the implementing partners.

In the circular, the agency however noted that a major threat to the successful implementation of the programme is the activities of smugglers, hence the security bodies have been engaged to intensify anti-smuggling operations.

The PMMC said together with the Minerals Commission shall continue to engage with stakeholders to resolve issues that may arise in the course of the implementation.