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The Precious Minerals Marketing Company (PMMC) has taken notice of an allegation that rings and bangles belonging to private persons are being confiscated at the Kotoka International Airport by security operatives on account of Ghana’s Gold for Oil (G4O) Policy.

PMMC as an implementing agency would like to state the following:

1. The gold industry is characterized by unscrupulous activities which include but are not limited to gold smuggling through various entry and exit points. The security agencies have been in constant collaborations with all relevant stakeholders including PMMC to address this phenomenon.

2. The Security Agencies have, long before the coming into force of the Gold for Oil Policy, had existing operations where they detain or arrest persons who travel through the Kotoka International Airport with unexplained quantities of gold dore disguised as jewellery. It is imperative to note that these security operations have always been in force.

3. There is an inter-agency team coordinating the implementation of the G4O policy with monthly review sessions. No directives whatsoever have been given by the team for the confiscation of personal jewellery for the purpose of the implementation of the Gold for Oil policy or any other policy.

The available data shows that there are adequate supplies of gold dore in Ghana to meet and sustain the Gold for Oil Policy. There is therefore absolutely no basis for the allegation that personal jewellery is being confiscated to service the Gold for Oil Policy.

Dated this 21st day of March, 2023
Corporate Planning Directorate, PMMC

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