Ghana Gold Board

Licensing
Licensing

Refining License

This is the license needed by an entity to be able to purify raw gold and remove impurities and separating the commercial metals into various components to make it suitable for end users.
Apply Now

Applications Requirements

  1. Company Particulars
    • Name of company in full
    • Other names used in the past
    • Date of incorporation
    • Place of issue of certificate of incorporation
      • Reference no. of certificate
      • Postal address
      • Registered address
      • Ghana Post GPS address
      • Telephone contact
      • Company’s e-mail address
    • Director’s e-mail & phone number
    • Director’s e-mail & phone number
    • Director’s e-mail & phone number
    • Police clearance report
    • Testimonial on the operation as well as the details of the parties stated above
    • Litigation disclosures
    • IDs of key management personnel and shareholders
  2. Names and Address of Shareholders of Company
    • Name
    • Date of birth
    • Place of birth
    • Nationality (Attach national ID card)
    • Address (attach utility bill)
    • Percentage of shares held
  3. Names and Address of Board of Directors of Company
    • Name
    • Date of birth
    • Place of birth
    • Nationality (Attach national ID card)
    • Address (attach utility bill)
  4. Company Profile
    1. Operational Requirement
      • Premises of Proposed Applicants (Vaulting Centers)
        • Title deed and/or lease agreement of all premises
        • Approval by relevant authorities i.e., environmental protection agency (melt facilities), business operating permit, etc.
      • Relevant Quality Certification
        • ISO/IEC Standard – General requirements for the competence of testing and calibration laboratories
        • ISO 9001: – Quality Management System
        • ISO 45001: – Occupational Health and Safety Management System
        • ISO 14001: – Environmental Management System
        • Health and Safety (adequate business space, staff operating area, ventilation, lighting, etc.)
        • Adequate security of premises:
          • Physical security measures
          • Access control measures
          • Closed circuit and monitoring measures
          • Security guarding measures
        • International standardized vault and safes with re-enforced steel doors and walls, class 4 safes, etc.
        • Internationally standardized communication mechanism to private and state security personnel and systems
        • Adequacy of alarm systems, fire extinguishers, etc.
        • Insurance – bullion, fire, burglary, and its limit to cover size of dore, bullion to vault
        • Independent security assessor’s report
      • Refining Equipment for Gold
        • The use of chemical refining to refine gold and the process includes:
          • Initial Purification
          • Aqua Regia Dissolution
          • Precipitation and Purification
          • Electrolytic Refining
          • Melting and Casting
        • Other refining equipment – X-ray Fluorescence (XRF), etc.
    1. Financial Requirements
      • Working Capital – A minimum capital requirement of 6 months of operational expenses
        • Documentary evidence of the working capital of the applicant, including the original sources of funds.

      • Financial Performance for the past 1 year for smelting and fabrication operations

      • Business Plan and Financial Projections for the first two years.

      • Audited Financial Statement for the last 1 year

      • SSNIT Clearance Certificate

      • Tax Clearance Certificate

      • Business Interests, and/or any other business concerns under the control of management

      • Fees and Charges
        • Description – Amount (GHC)
          • Application Processing Fees – TBD
          • License Fee – TBD
          • Annual License Renewal Fee – TBD
        • An application for a license must be accompanied by an application processing fee;
        • After final approval is granted, the applicant would be required to pay the initial licensing fee before the license will be issued;
        • A licensed facility is required to pay an annual licensing fee on or before 31st January of each year;
        • All the above-stated fees are payable by cheque or payment order to the GOLDBOD.

The GOLDBOD Supervision Department shall within the process, interview short listed applicants.

  1. The Facility Should Have the Following in Place
    • Professional Metallurgist
    • Chartered Accountant in good standing
    • Security Coordinator
    • An external audit firm
    • Internal control process
    • Management plan and Standard Operating Procedures (SOPs) for the operations

  2. Policies for Gold Sourced
    • Responsible sourcing
    • Anti Money Laundering (AML)
    • Counter Terrorism Financing (CTF)
    • Anti Bribery and Corruption
    • Supply Chain
It should be noted that the above conditions for license are subject to review and could affect an application in process. The GOLDBOD relies on other agencies both local and external in the processing of applications.

Terms and
Conditions

Grant of Licence

This non-transferable licence is issued and granted pursuant to GoldBod’s statutory mandate to appoint licenced buying agents for the purchase of gold from small-scale miners.

Upon a written request of the Licence Holder, GoldBod may issue ID Cards to employees of the Licence Holder who shall act as its agents for the purpose of carrying on gold purchases from small-scale miners. The ID Cards shall be limited to five employees of the Licence Holder.

The Licence Holder shall file monthly returns on all gold purchases. The returns shall be filed in the manner and format as directed by GoldBod.

GoldBod shall have the first option to purchase all or part of the gold from the Licence Holder. Should GoldBod not exercise this right, the Licence Holder may sell only to a Licenced Gold Dealer and/or Exporter.

Gold purchased shall only be exported through GoldBod

i. The Licence once issued shall be valid for Twelve (12) calendar months from the date of issuance.
ii. Upon expiry, an Applicant may apply for renewal of the Licence within three (3) months from the date of expiry, provided always that any application for renewal beyond the stated period shall be treated as a new application.
iii. An Application for renewal shall be considered and granted on the following conditions:

  • The Applicant has submitted (up-to-date returns) on gold purchases made during the subsistence of the licence to returns@goldbod.gov.gh.

  • A satisfactory police clearance report.

  • Proof of location of the registered office of the Applicant.

  • Payment of appropriate fees.

Provided always that GoldBod reserves the right to renew or refuse the renewal of the trading licence.

The License Holder shall at all times abide by the laws of Ghana, including other relevant international laws. The License Holder solemnly declares that it shall not use or permit the use of the License granted hereby in any criminal enterprise or for any transaction which is criminal in nature or facilitates money laundering.

GoldBod reserves the exclusive right to revoke the License upon stated grounds, including but not limited to a breach of the terms and conditions of the License.