The Precious Minerals Marketing Company (PMMC) has expressed deep concern over an incident on Tuesday, December 17, 2024, that disrupted operations at the National Assay Centre located at the Aviance Cargo Terminal.
According to a statement issued by PMMC, a group led by Joseph Yammin, the National Organizer of the National Democratic Congress (NDC), forcibly attempted to seize bullion bars being processed by the company for the Bank of Ghana. The confrontation lasted from 4:00 p.m. until midnight, prompting police intervention.
The bullion bars in question are part of the Bank of Ghana’s Domestic Gold Purchase Program (DGPP), launched in June 2021 to boost the country’s gold reserves. PMMC was in the process of verifying the weights, purity, and value of the gold when the mob alleged that the bullion was being smuggled out of the country by unnamed political actors—a claim PMMC has categorically denied.
After hours of negotiations, the gold was moved to the custody of the Greater Accra Regional Police Command for safekeeping. Alongside the bullion belonging to the Bank of Ghana, gold being processed for export by a private, licensed exporter was also included in the transfer.
PMMC has described the incident as “unlawful and deeply regrettable,” warning that such actions could damage Ghana’s reputation in the global gold trade. “These disruptions undermine the confidence of legitimate international gold buyers and jeopardize the country’s standing as a trusted player in the bullion market,” the statement read.
The company also emphasized the risks faced by its employees during such incidents. “Dedicated staff, who ensure compliance with Ghana’s strict regulatory standards, should not face threats or intimidation while performing their lawful duties,” PMMC said, adding that the hostile environment undermines efforts to maintain transparency and integrity in the gold trade.
PMMC stressed that the situation could have been avoided through proper verification with the relevant authorities, including PMMC and the Bank of Ghana. “A simple check would have clarified the legitimacy of the process and prevented this embarrassing and damaging incident,” the statement noted.
The company reaffirmed its dedication to transparency, accountability, and strict adherence to regulatory standards governing gold exports. It vowed to continue working with stakeholders to protect Ghana’s interests in the precious minerals industry.
PMMC reiterated its mandate as the National Assayer and assured the public that it remains committed to promoting responsible gold trade practices and safeguarding the integrity of the nation’s gold sector.
