25 Arrested in Accra for Unlawful Gold Buying, Selling, and Smelting: Ghana Gold Board Crackdown

Introduction

In a major enforcement action against unlawful gold buying and selling in Accra, the Ghana Gold Board, alongside the Goldbod Taskforce and National Security operatives, arrested 25 individuals on allegations of illegal gold trading, smelting, and assaying. This operation targeted locations in Dome Pillar 2 and Akweteyman-Achimota, highlighting Ghana’s ongoing efforts to regulate its vital gold industry. As Africa’s second-largest gold producer, Ghana enforces strict licensing for gold activities to combat smuggling, money laundering, and environmental harm. This crackdown underscores the risks of unlicensed gold operations and the government’s commitment to a sanitized gold sector.

Why This Matters for Ghana’s Gold Economy

Gold accounts for over 90% of Ghana’s mineral exports, contributing significantly to GDP. Unregulated activities undermine revenue collection and national security, making such arrests crucial for economic stability.

Analysis

The arrests stemmed from two intelligence-led operations conducted by the Ghana Gold Board. Deputy CEO Richard Nunekpeku, Esq., confirmed the involvement of both Ghanaian nationals and foreigners, signaling the transnational nature of illegal gold trade. Authorities seized over GH¢64,000 and USD 112,500 in cash, alongside numerous gold bars and precious metals linked to illicit dealings.

Operational Details

Raids at Dome Pillar 2 and Akweteyman-Achimota revealed unlicensed smelting and assaying setups. Smelting involves melting raw gold ore into bars, a process requiring specialized licenses under Ghanaian law to ensure purity standards and tax compliance. The cash seizures suggest potential money laundering ties, common in unregulated gold markets.

Broader Implications for Gold Smelting Raids in Ghana

This action aligns with intensified surveillance nationwide. The Ghana Gold Board aims to protect mineral wealth by curbing illegal exports, which deprive the state of royalties and export duties. Previous operations have similarly targeted smugglers, but this raid’s scale—25 arrests—demonstrates escalating enforcement.

Summary

The Ghana Gold Board executed two raids in Accra, arresting 25 suspects for unlawful gold buying, selling, and smelting. Seized assets included GH¢64,000, USD 112,500, and gold items. Suspects received police inquiry bail; some face court arraignments, others ongoing probes. Officials warn unlicensed operators to cease activities immediately.

Key Points

Practical Advice

For individuals and businesses engaging in Ghana’s gold sector, compliance is essential. Here’s how to legally participate in gold buying, selling, and smelting:

Obtaining Licenses

Apply for a gold trading license from the Ghana Gold Board (formerly Precious Minerals Marketing Company – PMMC). Requirements include business registration, proof of capital, secure storage facilities, and assaying equipment calibration. Small-scale buyers must register as licensed dealers.

Step-by-Step Legal Gold Trading Process

1. Purchase from Licensed Miners: Buy only from holders of small-scale mining licenses issued by the Minerals Commission.
2. Assay and Stamp: Submit gold for official assaying at Ghana Gold Board centers to verify purity (e.g., 22+ carat).
3. Pay Taxes and Royalties: Settle 6% withholding tax on exports and royalties before selling.
4. Export Legally: Use authorized channels like the Ghana Gold Board for international sales.
5. Record-Keeping: Maintain detailed transaction logs for audits.

Benefits of Compliance

Legal operators access export quotas, bank financing, and international markets, avoiding arrest risks and asset forfeiture.

Points of Caution

Engaging in unlicensed gold activities exposes individuals to severe consequences. Deputy CEO Nunekpeku urged immediate cessation of illegal operations.

Common Pitfalls to Avoid

• Buying gold without verifying miner licenses.
• Smelting without certified facilities, risking contamination.
• Handling large cash transactions without declarations.
• Ignoring surveillance by Goldbod Taskforce patrols.

Public awareness campaigns emphasize reporting suspicious activities to the Ghana Gold Board hotline.

Comparison

This Accra raid compares to prior enforcement actions, such as the 2023 operations in Kumasi where 15 were arrested for similar offenses, seizing gold worth millions. While the 2023 raids focused on eastern regions, Accra’s urban crackdown targets smuggling hubs near ports.

Scale and Outcomes

Accra’s higher arrest numbers reflect urban density and foreign involvement, with consistent bail and prosecution patterns.

Legal Implications

Under Ghana’s Minerals and Mining Act (2006, as amended) and Gold Board Regulations, unlicensed gold buying, selling, or smelting constitutes a criminal offense. Penalties include fines up to GH¢250,000, imprisonment up to 15 years, and asset forfeiture.

Relevant Laws

• Section 99, Minerals Act: Prohibits unlicensed dealing in minerals.
• Gold Board Act: Mandates licensing for buying, assaying, and export.
• Anti-Money Laundering Act (2008): Cash seizures trigger investigations for laundering.

Suspects here face charges in Accra courts, with precedents showing convictions leading to jail terms and fines.

Conclusion

The arrest of 25 individuals in Accra for unlawful gold buying and selling reinforces the Ghana Gold Board’s resolve to regulate the sector. Through partnerships with security agencies, the nation safeguards its gold resources, ensuring sustainable benefits. Aspiring traders must prioritize licensing to contribute legally. Expect continued raids, promoting a compliant gold economy for all stakeholders.

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