The Precious Minerals Marketing Company (PMMC) has officially transitioned into the Ghana Gold Board (GoldBod) following the passage of the GoldBod Bill, 2025, by Parliament.

The bill was passed during a late-night session at 3:10 a.m., despite a walkout by the Minority in protest of the bill.

This landmark move represents a significant shift in Ghana’s gold sector, as PMMC, now GoldBod, assumes an expanded mandate with enhanced regulatory powers.

The transformation aims to streamline the gold trade, boost value addition, and tackle gold smuggling through collaboration with state security agencies.

Before the transition, the Acting Managing Director of PMMC had highlighted the company's historical evolution.

Initially established as the Ghana Diamond Marketing Board in 1965 under Legislative Instrument (LI) 401, it was rebranded as the Diamond Marketing Corporation in 1972 under NRC Decree 32.

In 1989, it became the Precious Minerals Marketing Corporation (PMMC), and in 2000, it was restructured into a limited liability company under Act 461.

With the new GoldBod Bill in effect, GoldBod will hold exclusive rights as Ghana's sole gold exporter.

The new structure is expected to enhance the regulation of gold production from large-scale mining companies and foster responsible sourcing in small-scale mining.

A key feature of GoldBod's mandate includes reviewing valuation and fee systems to ensure consistency, fairness, and revenue assurance.

While the transformation introduces new policy shifts, the core mandate of the company remains unchanged. The restructuring is poised to enhance operational capacity, create jobs, and position GoldBod as a leading player in global gold trade while aligning with international best practices.

The Acting Managing Director noted that GoldBod would work to formalize small-scale mining practices and ensure traceability of gold to curb illegal activities.

The change is seen as a strategic move to maximize the benefits of Ghana’s rich mineral resources.