Skip to main content

1. What is the process of acquiring a license?

Answer:
i. The process starts with the registration of a business entity, either as a sole proprietorship or a limited liability company at the Registrar General’s Department.

ii. The nature of business should include the following

• buying
• selling
• and exporting of Precious Minerals

iii. Download and fill out the application form from here (website/link). The form should be submitted with copies of the following documents attached.

• Residence utility bill
• A valid ID card (Ghana Card)
• 2 passport pictures

iv. There is a processing fee of GHC100.00

v. The form must be submitted with an application letter on the applicant’s business Letterhead, signed and addressed to:

The Managing Director Precious Minerals Marketing Co. Ltd
P.O. Box M108 Diamond House, Accra

vi. The applicant MAY add names of five (5) agents or employees for the accreditation to be issued for them to buy gold from small scale miners.

vii. A Police Clearance Report from the CID Headquarters will be required from the applicant.

viii. For Companies where a non-Ghanaian individual or entity is a shareholder, a GIPC Certificate will be required to support the application.

ix. Validity of license is for one (1) year from the date of issuance, subject to an annual renewal.

x. Fees
Fresh Application GHC 7,000.00
Renewal GHC 5,000.00
Companies (Foreign Shareholding) USD$ 5,000.00

2. How long does it take to acquire a license?

Answer:
The process usually takes ten (10) to fifteen (15) working days from the date of submission of the application subject to the prompt receipt of the Police Clearance Report from the Ghana Police Service.

3. Can I buy gold without a license?

Answer:
No, you cannot buy gold without a license in Ghana. It is illegal and punishable by law to buy any mineral without a valid license or permit.

4. Can PMMC recommend credible Agents?

Answer:
Yes, we keep a record of Licensed Buying Agents (LBAs) who are in good standing. Contact the PMMC office for a recommendation.

5. Can PMMC recommend credible exporters/shippers of gold and diamonds?

Answer:
Yes, we can. Contact the PMMC office for any such recommendation.

6. Can I sell my gold or Diamond at PMMC?

Answer:
Yes, PMMC buys Gold and Rough Diamonds (unprocessed diamond) from the public. PMMC buys gold in smaller volumes for its jewellery manufacturing.

PMMC also facilitates the sale of rough diamonds to Licensed Buying Companies (LBCs).

7. How long does it take to generate an assay report?

Answer:
This is normally based on the volume of gold to be assayed. However, it could take between five (5) minutes to thirty (30) minutes to conduct an assay analysis.

8. How much do you charge for the assay?

Answer:
Charges are based on the value of gold being assayed. There is a charge of 0.2524% of the total value of the gold.

9. What is the tax component on gold export?

Answer:
There is a withholding tax of 1.5% of the total value of the export.

10. What is the unit price of gold?

Answer:
The price of gold is not fixed. It is determined by the World Market price. The spot price of gold can be confirmed by a call or a mail to the PMMC office.

11. What is the process of exporting gold?

Answer:
There are Licensed Gold Exporters (LGEs) who will charge a fee to facilitate the process on behalf of the client. Upon request, PMMC can recommend an LGE.

Alternatively, an export license can also be acquired from the Minerals Commission upon an application and submission of requisite documentation.

12. What form of payment is accepted/received by PMMC?

Answer:
Either electronic or cash payment is accepted.

13. Can PMMC keep gold in its vault upon customer’s request?

Answer:
Yes, PMMC has a state-of-the-art vault where it can store gold and other precious minerals on behalf of clients.

14. What are the processes of trading and exporting diamonds?

Answer:
PMMC is the sole exporter of diamonds. However, to trade in diamonds, the trader must acquire a license from PMMC.

15. What are the processes of acquiring diamond trading licenses?

Answer:
The buyer must pick up forms from PMMC for filling and submission for the trading license.

16. How do I acquire a Kimberley Process (KP) Certificate?

Answer:
Kimberley Process (KP) Certificates are issued solely by PMMC during export of the diamonds.

17. What is the cost of a Kimberley Process (KP) Certificate?

Answer:
Kimberley Process (KP) Certificates are not for sale.

18. What processes do I need to go through to get my diamonds tested and valued?

Answer:
The diamonds must be presented at PMMC Head Office for testing and valuation.

19. What are the charges and taxes for diamond exportation?

Answer:
Included in the charges for exportation is a commission of 2.3848% and Withholding tax of 1.5% on the export value.

20. How do I export diamonds that are meant for testing/experiment?

Answer:
Diamonds which are being exported for testing/experimental purpose require a Kimberley Process Technical Certificate from PMMC.

21. Is a foreigner permitted to trade in diamonds?

Answer:
Yes, the foreigner can trade only with a valid license.

22. How long does it take to process a diamond export?

Answer:
It takes one (1) to two (2) working days to process the export.

23. Who can I talk to (contact person) when I need help?

Answer:
You can reach any of our Client Service Representatives (CSR) via the following:
+233 (0) 302 953 284
+233 (0) 302 953 279

You can also send an email to enquiries@pmmc.gov.gh
info@pmmc.gov.gh

WeCreativez WhatsApp Support
Our customer support team is here to answer your questions.
Welcome to PMMC