Home About Ghana Trade and Investment Procedures for Purchase of Gold and Diamonds
Procedures for Purchase of Gold and Diamonds PDF Print E-mail
  • Application forms for Licenses to purchase Diamond may be obtained by any foreign company and/individuals from the PMMC. Completed forms must be returned to the Managing Director of PMMC with a non-refundable fee of USD$100.
  • Processing of application forms requires a confidential status report on the company. Whilst this is being done, a temporary license may be issued not exceeding six months. A company so issued with a temporary license may commence purchase of rough diamonds only upon the payment in full US$1,000 per month for the period approved and an up-front payment transfer of not less than USD$250,000 is required. All unutilized funds will be transferable. Fees for permanent Licenses are US$12,000 per annum. This is renewable every year.
  • Permanent license holders are required to purchase not less than US$150,000 worth of diamonds per month.
  • All buying agents are provided with an office at Diamond House with basic office furnishing for the purpose of buying rough diamonds.
  • A temporary or permanent buyer must engage resident valuer(s) to purchase the rough diamonds by negotiating directly with local winners and agents alongside other buyers at competitive prices.
  • All purchasing activity must be done in this office at Diamond House and not at the mining sites.
  • Rough diamonds purchased by License Buying Agents are kept in a special box at the end of each working day and transferred to PMMC for security safe keeping until required by the agent.
  • A commission of not more than 3% on the export value of rough diamonds shipped at the request of the agent to a designated address is paid to PMMC.
  • A license will be withdrawn immediately for the following reasons:
    • Inactivity for a period exceeding 21 days without prior notice
    • Buying diamonds outside the premises
    • Infringement or violation of Ghana's Mining Laws
    • An official adverse report on the status of the company
    • Buying malpractice including dealing with solely selected agents/winners
    • Using the office for other purposes other than buying diamonds

Enquiries

The Managing Director
Precious Minerals Marketing Corporation
Diamond House
P O Box 108
Accra
Ghana

Tel: +233 21 664931-4
Fax: +233 21 662586
Telex: 20-5-Dimond GH
 
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