How To Buy Gold In Ghana

Gold is a yellow precious metal, the chemical element of atomic number 79, used especially in jewelry and decoration and to guarantee the value of currencies.

Registering for a Gold Buying and Export License in Ghana

Registering for a gold buying and export license is required for all persons interested in trading in gold in Ghana. Ghana is one of the most attractive business destinations in the West African sub-region. One of the mineral resources that is available to the nation is gold. In this article, we provide helpful guidelines on how to obtain a gold buying and export license.

How much gold does Ghana produce?

According to the Ghana Chamber of mines in a published article; ‘2019 Mining Industry Statistics and Data ‘, Ghana maintained its position as the leading producer of gold in Africa and the eighth-largest producer in the world in 2019. Producing about three million ounces of gold in 2019.

Where in Ghana can you find gold to buy?

In Ghana,  gold is mined by both companies and artisanal miners. Some of the largest gold mining companies in Ghana are Kinross Gold in Chirano mine, Newmont Goldcorp in Akyem and Ahafo mines, AngloGold Ashanti in Obuasi, Iduapriem mines, Gold Fields in the Tarkwa gold mine, and Asanko Gold in Asanko mine. These companies primarily export gold that is mined from their mining concessions. However, small-scale miners in the country mine and sell gold to entities and individuals. Some of the popular communities where you can buy gold include, Oda, Akyem, Tarkwa, Obuasi Prestea, Amansie, Kwabeng and Bibiani.

Who is responsible for the Issuance of gold export license?

The Government Agency that has the mandate and is responsible for the regulation and management of mineral resources in Ghana is the Minerals Commission. Hence, all applications for licensing for the trading and export of gold must be lodged with the Minerals Commission.

The minerals commission is mandated is to do the following:

  • Coordinate and implement policies related to mining in Ghana
  • Grant of licenses to corporate entities to undertake the business of mining, purchase and export of gold in Ghana.

Who qualifies for a gold export license?

Minerals and Mining (Amendment) Act, 2015 (Act 900) requires that only legal entities in Ghana that the Registrar Generals Department has duly registered can apply for a license that will enable them to export or sell minerals. There are Seventy-One (71) registered gold trading and export companies in Ghana.

What is the validity period for a gold export licence?

Gold export license is valid for three (3) years subject to renewal for another three years upon expiry.

Procedure for obtaining a gold export license in Ghana

Step 1 – Purchase an application form

Purchase an application form from the Minerals Commission Office.

Step 2 – Complete the application form

Fill the forms with the right information to facilitate the process.

Step 3- Submission of application forms at the Minerals Commission

Submit a well-completed form to the Minerals Commission and attach the following documents ;

  • Certificate of incorporation
  • Company Constitution
  • Form 3 and 4 from Registrar General
  • Utility Bill
  • CVs of key management
  • Valid ID Card (Any of these: Voter ID, Driver’s License, Passport, National ID)
  • Two (2) Passport Size Photo
  • GRA registration documents
  • Business Plan

Step 4 – Review of application

The Commission will review the application and all submitted documents. This process takes average 2 to 3 months. Once the applicant meets all the requirements, the Commission will issue an invoice for the license fee to be paid. After payment is done, the Commission will proceed to issue the license accordingly.