The Precious Minerals Marketing Company (PMMC), in collaboration with Eduga Institute for Social Development and with support from the World Bank, has initiated a training program to equip gold buyers with critical skills in record-keeping and ethical gold sourcing.
The program, held in Bolgatanga, is part of PMMC’s broader strategy to ensure that gold mined in Ghana meets international standards and avoids blacklisting in global markets.
Speaking at the event, Raphael Kumah, a senior official at PMMC, explained that the training focuses on educating participants about bookkeeping practices, proper licensing, traceability of gold sources, and adherence to environmentally responsible practices.
“We aim to ensure that all gold produced in Ghana is sourced and traded through the right channels, with proper licensing and ethical mining practices,” he said.
The workshop targeted 45 participants from the Upper East, Upper West, Savannah, North East, and Northern Regions. Most attendees were licensed gold buyers, while others were in the process of acquiring their licenses.
PMMC aims to regularize operations within the gold-buying sector to eliminate revenue losses caused by illegal gold trading and to prevent Ghana’s gold from losing its reputation in global markets.
“We’ve seen cases in other countries where diamonds were blacklisted due to unethical practices. If Ghana does not ensure proper sourcing, we risk similar consequences for our gold,” Kumah warned.
Mr. Yaw Mot, Upper East Regional Chairman for Small-Scale Miners, acknowledged the relevance of the training, describing it as an eye-opener. He highlighted how the lack of proper record-keeping has hindered many gold buyers from formalizing their operations—a challenge this initiative seeks to address.
He also emphasized that the absence of direct engagement with PMMC has made gold trading resemble a black market operation. Mr. Mot called for the reopening of the Precious Minerals Marketing Commission’s office in the region to help formalize gold-buying activities.
“This training is an eye-opener for everyone because, these days, gold-buying activities here look more like a black-market operation. Many gold buyers in the system don’t deal directly with PMMC. People buy gold and find ways to sell it anywhere. Most gold buyers lack record-keeping practices. This exercise is teaching us how to properly track and formalize our operations,” he said.
While participants appreciated the training, they expressed concerns about the difficulties they face in obtaining licenses and concessions for mining. They appealed to PMMC to ease the process for local gold buyers.
In response, Raphael Kumah refuted the claims, explaining that while PMMC’s licensing process is relatively straightforward, delays often result from extensive background investigations conducted by the Criminal Investigations Department (CID). He also noted that the capital requirements for licensing pose significant challenges for many applicants.
“One major challenge identified is the capital required for acquiring licenses. While the PMMC licensing process is relatively straightforward, delays arise due to the background investigations conducted by the CID. Additionally, some locals secure licenses on behalf of foreign investors who bypass regulations, which further complicates the situation,” he added.
Source: A1Radioonline.com|101.1MHz|Gerard Asagi|Ghana
