President John Dramani Mahama is set to officially launch the Ghana Gold Board Taskforce on Tuesday, July 8, 2025, as part of intensified efforts to tackle gold smuggling and other illegal activities within the country’s gold trade.
The announcement was made by the Acting Managing Director of the Ghana Gold Board (GoldBod), Sammy Gyamfi, during a press briefing on Monday, June 30.
According to Mr. Gyamfi, the new GoldBod licensing regime has officially taken effect, rendering all previously issued licenses invalid.
The Taskforce, he explained, will play a crucial role in enforcing the new regulatory framework and safeguarding the country’s mineral resources.
“On the 8th of July, His Excellency the President, on whose vision the Gold Board has been established, will commission a very important unit of the Ghana Gold Board. This event is going to be the inauguration of the Gold Board Tax Force. “
“It’s a very important programme because on that day the President will outlaw this new security tax force who have the same powers as police officers and who have been given a special and specific mandate to help the state combat and defeat the phenomenon of gold smuggling, the canker of gold smuggling, the canker of illegal gold trading, and price disruptions that deprive the state of the needed revenue, the needed profits, the needed forex for our economy and the development of our country as a whole,” Mr. Gyamfi stated.
He revealed that the Taskforce will be supported by an intelligence unit already deployed nationwide, actively monitoring the activities of smugglers and illegal gold traders.
“We know you, you are not in hiding at all because your cover is blown,” he warned, stressing that the intelligence unit will work hand-in-hand with the Gold Board Tribunal to investigate and prosecute offenders under the Ghana Gold Board Act, 2025 (Act 1140).
The establishment of the Taskforce follows sweeping reforms introduced under Act 1140, which revoked all gold trading licenses previously issued by the defunct Precious Minerals Marketing Company (PMMC) and the Ministry of Lands and Natural Resources.
The reforms aim to enhance regulatory oversight and ensure transparency in the small-scale mining sector.
GoldBod recently extended the deadline for small-scale miners and gold dealers to obtain licenses under the new framework to June 21, 2025, following a petition from the National Concerned Small-Scale Miners Association of Ghana.
Mr. Gyamfi emphasized that no further extensions would be granted beyond the June 21 deadline, warning that only GoldBod-issued licenses are now recognized for the purchase, sale, or export of gold in Ghana.
Licenses issued by the former PMMC or the Ministry have been rendered invalid, with breaches treated as criminal offenses under Act 1140.
GoldBod has urged all gold dealers and mining companies to comply with the new regulations to avoid legal consequences and contribute to the sustainable management of the country’s gold resources.
