Ghana Gold Export License, 2025: Everything You Need to Know

A Ghana gold export license is an official authorization issued by the government, allowing individuals or companies to legally export gold from Ghana.

Obtaining this license ensures compliance with the country’s gold export regulations Ghana 2025, protecting both investors and the local mining industry.

Licensing is crucial for avoiding legal penalties, fines, or confiscation of gold, and it provides transparency and credibility in international trade.

Understanding how to export gold from Ghana requires knowledge of required documentation, export permits, and approved procedures.

Whether you are a local miner or a foreign investor, securing a Ghana gold export license is the first step toward safe, legal, and profitable gold trade.

Overview of Gold Export in Ghana

Ghana’s Gold Industry: Ghana is Africa’s leading gold producer and the world’s eighth-largest, producing approximately 3 million ounces in 2019. Gold accounts for about 48% of Ghana’s export revenue through royalties, taxes, and corporate contributions.

Regulatory Bodies:

• Minerals Commission: Issues and oversees gold trading and export licenses.
• Precious Minerals Marketing Company (PMMC): Assays, values, and certifies gold for export, ensuring compliance with regulations.
• Ghana Revenue Authority (GRA): Manages export duties and customs clearance.
• Bank of Ghana: Monitors financial transactions to ensure compliance with anti-money laundering (AML) laws and repatriation of export proceeds.

Legal Framework: The gold trade is governed by the Minerals and Mining Act, 2006 (Act 703), Minerals and Mining (Amendment) Act, 2019 (Act 995), and the Precious Minerals Marketing Company Act, 1989 (PNDC Law 219). Unauthorized gold export is a criminal offense.

Eligibility for a Ghana Gold Export License

Only legal entities registered in Ghana can apply for a gold export license. Individuals or foreign companies must establish a Ghanaian-registered business to qualify. Key eligibility requirements include:

• Business Registration: The applicant must be a limited liability company registered with the Registrar General’s Department in Ghana.
• Minimum Capital Requirements: Foreign investors must meet capital thresholds set by the Ghana Investment Promotion Centre (GIPC) Act, 2013 (Act 865) for trading businesses, which include gold export. The exact capital requirement varies but is typically around USD 500,000 for non-Ghanaians.
• Directors: The company must have at least two directors (natural persons over 18), one of whom is ordinarily resident in Ghana. Certain individuals (e.g., those convicted of fraud or deemed of unsound mind) are ineligible to serve as directors under the Companies Act, 2019 (Act 992).
• Due Diligence: Applicants must pass a due diligence check by the Minerals Commission to confirm legitimacy and compliance with regulations.

Requirements for Obtaining a Gold Export License

To apply for a gold export license, you must submit specific documents to the Minerals Commission. These documents verify your business’s legal standing, financial capability, and operational compliance. Required documents include:

Business Registration Documents:

• Certificate of Incorporation (issued by the Registrar General’s Department).
• Certificate to Commence Business.
• Memorandum and Articles of Association (outlining the company’s structure and objectives, including gold export).
• Forms 3 and 4 from the Registrar General (detailing company ownership and directors).

Company Profile:

• Beneficial Ownership Profile (disclosing ultimate owners).
• Details of the company’s operations and objectives.

Proof of Address:

• Current utility bill for the registered company’s location.

Identification:

• Valid ID (e.g., Ghana Card, passport, driver’s license, or voter ID) for directors.
• Two passport-sized photographs for key personnel.

Financial and Tax Documents:

• Tax Identification Number (TIN) from the Ghana Revenue Authority.
• Proof of financial capability (e.g., bank statements or audited financials).

Application Form:

• Obtain and complete the gold export license application form from the Minerals Commission.

Gold Assay Report:

• A report from an accredited laboratory (e.g., PMMC or Ghana Standards Authority) verifying the purity and quality of the gold intended for export.

Environmental Compliance:

• If involved in mining, provide permits from the Environmental Protection Agency (EPA) demonstrating adherence to environmental standards.

Additional Requirements for Foreign Entities:

• Registration with the Ghana Investment Promotion Centre (GIPC).
• Partnership with a Ghanaian business or local entity for export activities.

Costs Associated with a Gold Export License

The exact cost of a gold export license is not explicitly detailed in available sources, as fees may vary based on the prevailing exchange rate, government policies, and specific business circumstances. However, based on the information provided, the following costs are involved:

License Application Fee: The application form itself has a nominal cost (not specified but typically low, e.g., USD 10–50 equivalent in Ghana Cedi).

License Fee: After approval, the Minerals Commission issues an invoice for the license fee. While the exact amount is not provided, it is payable in Ghana Cedi equivalent at the prevailing exchange rate.

Estimates from industry sources suggest this fee ranges from USD 1,000 to USD 5,000, depending on the scale of operations and regulatory updates.

Business Registration Costs: Registrar General’s Department Fees: Approximately USD 200–500 for company incorporation, including capital duty (0.5% of stated share capital) and registration fees.

GIPC Registration: Foreign investors may incur additional fees for GIPC registration, estimated at USD 1,000–2,000, depending on the business structure.

Assay and Certification Fees: PMMC charges an assay fee of 0.176% of the value of the gold assayed. For example, if exporting 100 ounces of gold valued at USD 2,500 per ounce (total USD 250,000), the assay fee would be approximately USD 440.

Export Duties and Taxes: Export duties are imposed by the Ghana Revenue Authority. The exact rate is not specified but typically ranges from 1–3% of the gold’s value, depending on government policy. For 100 ounces at USD 250,000, this could be USD 2,500–7,500.

Additional customs clearance charges may apply, estimated at USD 100–500 per shipment.

Other Operational Costs:

Legal Representation: Engaging a lawyer for due diligence and contract drafting costs USD 1,000–5,000, depending on complexity.

Shipping and Insurance: Exporters are responsible for airfreight and insurance charges, which vary by destination and shipment size (e.g., USD 1,000–10,000 per shipment).

Environmental Permits (if applicable): EPA permits for mining-related activities may cost USD 500–2,000.

Estimated Total Initial Cost:

Low-End Estimate: USD 5,000–10,000 (small-scale operations, minimal legal and shipping costs).

High-End Estimate: USD 20,000–30,000 (larger operations, including legal, assay, and export duties for significant shipments).

Note: Costs are approximate and subject to change based on exchange rates, gold value, and government policies. Always verify current fees with the Minerals Commission or PMMC.

Export Procedures for Licensed Gold Exporters (LGEs)

Once licensed, exporters must follow strict procedures to export gold legally. These steps ensure compliance with regulatory and anti-fraud measures:

Notify PMMC: Inform the PMMC in writing of export plans at least 2 working days before the planned weekly export.

Submit Gold for Assay: Deliver the gold ore to a PMMC-designated assay center with all declaration documents (e.g., packing list, invoice).

PMMC assays the gold to determine purity and issues a report to the Bank of Ghana, GRA, and Minerals Commission.

Customs Sealing: A GRA Customs Official at the assay center inspects and seals the gold with the Customs Division’s seal in the presence of a PMMC representative.

Documentation at Kotoka International Airport (KIA):

Complete required export documentation at KIA, including:

• Customs Declaration Form (endorsed by GRA).
• Bank of Ghana Exchange Control Form A2.
• Certificate of Origin (if required).
• Gold Assay Report and valuation certification from PMMC.

Gold cannot be exported without GRA and PMMC seals and full documentation.

Shipping: Work with authorized shipping agents to transport the gold securely. The exporter covers insurance and airfreight costs.

Monthly Returns: Submit monthly returns to the Minerals Commission detailing all export activities, as per license terms.

Compliance and Ongoing Obligations

To maintain a gold export license, exporters must adhere to the following:

License Conditions:

• Comply with all terms specified in the license, including export limits and reporting requirements.
• Submit monthly and annual returns to the Minerals Commission.

Tax Compliance:

• Pay export duties, royalties, and taxes as required by the GRA.
• Obtain a Tax Identification Number and comply with VAT regulations.

Anti-Money Laundering (AML):

• Ensure all financial transactions comply with AML regulations monitored by the Bank of Ghana.
• Repatriate export proceeds through Ghanaian banks.

Environmental Standards: If involved in mining, maintain EPA permits and adhere to sustainable practices.

Due Diligence:

• Verify suppliers and partners with the Minerals Commission and PMMC to avoid scams.
• Avoid transactions with unlicensed dealers.

License Cancellation Risks: A license may be revoked for:

• False statements about operations.
• Exporting through unlicensed entities.
• Involvement in illegal transactions.
• Inactivity for one month without notifying PMMC.
• Non-compliance with PMMC or Minerals Commission regulations.

Risks and Precautions

• Scams: The Ghanaian gold market is prone to fraud. Always verify suppliers with the Minerals Commission and PMMC, demand proper documentation, and avoid unlicensed dealers.
• Legal Representation: Engage a lawyer with expertise in Ghana’s gold trade to conduct due diligence, draft agreements, and ensure compliance.
• Policy Changes: Gold trade laws frequently change. Stay updated through the Minerals Commission, PMMC, or legal counsel.
• Due Diligence: Foreign entities must undertake thorough due diligence on local partners to avoid scams and ensure compliance.

Additional Notes

• License Validity: The gold export license is valid for 3 years and can be renewed for another 3 years upon application and payment of renewal fees.
• Number of Licensed Exporters: As of October 2024, there are 71 registered gold trading and export companies in Ghana.
• PMMC’s Role: PMMC is the only authorized body for grading, assaying, and certifying gold for export. All gold must be sold through PMMC or other government-licensed entities.
• Foreign Investors: Foreigners must partner with Ghanaian businesses and register with the GIPC to operate legally.

10. Sources for Further Information

• Minerals Commission: www.mincom.gov.gh
• Precious Minerals Marketing Company (PMMC): www.pmmc.gov.gh
• Ghana Revenue Authority (GRA): gra.gov.gh
• Ghana Investment Promotion Centre (GIPC): www.gipc.gov.gh
• Registrar General’s Department: For business registration details.
• Legal Counsel: Consult firms like Legalstone Solicitors LLP or other Ghana Bar Association members for expert guidance.

Summary of Estimated Costs (USD)

Note: Costs are estimates based on available data and may vary. Contact the Minerals Commission or PMMC for current Market news.