Precious Minerals Marketing Company GHANA

General Information
THE PRECIOUS MINERALS MARKETING COMPANY LIMITED (PMMC) WISHES TO INFORM ALL FOREIGNERS WHO INTEND TO PURCHASE GOLD AND DIAMONDS IN GHANA TO BE GUIDED AS DETAILED HEREUNDER, IN ORDER TO AVOID BEING SWINDLED BY FAKE DEALERS.
1. ALL OFFERS RECEIVED FROM INDIVIDUAL'S PRIVATE MINING COMPANIES, LICENSED BUYERS, FOR THE SUPPLIES OF GOLD AND DIAMONDS, ARE TO BE CONFIRMED WITH THE
PRECIOUS MINERALS MARKETING COMPANY LIMITED. DIAMOND HOUSE, ACCRA. ALL SUCH CORRESPONDENCES ARE TO BE ADDRESSED TO THE MANAGING DIRECTOR, P. O. BOX M.108, ACCRA FOR ADVICE. TELEPHONE NUMBERS: - 00-233-21-664931 , 663932, 664933, 664934, 664350, 664360. FAX NUMBER: 00-233-21-662586. EMAIL: - pmmc@pmmcghana.com
General Information
2.PROSPECTIVE BUYERS ARE STRICTLY ADVISED NOT TO MAKE ANY PAYMENTS IN CASH FOR GOLD AND DIAMONDS SUPPLIES DIRECTLY TO INDIVIDUALS, PRIVATE COMPANIES, OR LICENSED BUYERS. PAYMENTS FOR GOLD AND DIAMONDS ARE MADE THROUGH PRECIOUS MINERALS MARKETING COMPANY BY BANK TRANSFERS FROM CITI BANK, NEW YORK, TO THE BANK OF GHANA (i.e. the central bank of Ghana.)
3.ALL EXPORTS OF GOLD AND DIAMONDS ARE DONE BY THE PRECIOUS MINERALS MARKETING COMPANY LIMITED ON BEHALF OF SELLERS/SUPPLIERS TO OVERSEAS BUYERS’ DESTINATIONS, AFTER INSPECTION AND SEALING BY THE GHANA CUSTOMS SERVICE.
4.ANYONE WHO CLAIMS TO HAVE GOLD AND DIAMONDS FOR SALE, SHOULD BE INFORMED TO DELIVER THE GOLD AND DIAMONDS AT THE PRECIOUS MINERALS MARKETING COMPANY LIMITED, FOR TESTING/ASSAYING. THEREAFTER, THE PRECIOUS MINERALS MARKETING COMPANY LIMITED WILL CONFIRM THE GENUINENESS AND VALUE, OF THE GOLD OR DIAMONDS TO THE OVERSEAS BUYERS.
General Information
5.OVERSEAS BUYERS ARE TO NOTE THAT GOLD IS NORMALLY SOLD IN GHANA IN THE SMELTED (i.e. bars) FORM, AND VERY RARELY IN THE DUST FORM. OFFERS FOR SALE OF GOLD DUST AT RIDICULOUSLY LOW PRICES ARE NOT GENUINE AND SHOULD BE IGNORED. PRICING OF GOLD IN GHANA ARE BASED ON THE LONDON METAL EXCHANGE (LME) QUOTES.
THEREFORE OFFERS WITH BIG DISCOUNTS RANGING FROM 20% TO 50% ARE ONLY MEANT TO DECEIVE OVERSEAS BUYERS TO PART WITH CASH TO THE FAKE DEALERS, WHO NORMALLY ASK FOR FEES IN RESPECT OF INCIDENTAL EXPENSES LIKE TRANSPORTATION, COMMISSION, SECURITY, “MOVEMENT”, HANDLING, DOCUMENTATION, INSURANCE ETC. ALL SUCH FEES ARE INCORRECT.
6. INSPECTION AND ASSAY CERTIFICATES PURPORTED TO HAVE BEEN ISSUED BY SGS MAY NOT BE GENUINE, AND SHOULD BE CROSS- CHECKED.
General Information
7.PRESENTATIONS MADE TO FOREIGNERS ABOUT LARGE HOLDINGS OF GOLD DUST BY PEOPLE DESIGNATED AS CHIEFS, RELATIVES OF FAMOUS AND RESPECTED CHIEFS, LAND OWNERS, & MINERS, ETC. ARE NOT TO BE BELIEVED. FOR ALL SUCH CLAIMS, THE OWNERS SHOULD BE DIRECTED TO DELIVER THE GOLD AT PRECIOUS MINERALS MARKETING COMPANY LIMITED, FOR TESTING & VALUATION, AS INDICATED IN (4) ABOVE.
8. THE OFFICES OF PRECIOUS MINERALS MARKETING COMPANY LIMITED ARE ONLY AT THE DIAMOND HOUSE, NEAR THE MINISTRY OF FOREIGN AFFAIRS, AND ADJACENT TO THE REGISTRAR-GENERAL’S DEPARTMENT, IN ACCRA. THE CONTACT ADDRESSES ARE AS INDICATED IN (1) ABOVE. ANY OTHER LOCATIONS GIVEN BY FAKE DEALERS ARE NOT CORRECT
9.THERE ARE SEVERAL ADDRESSES OF SELF-ACCLAIMED GOLD SUPPLIERS ON THE INTERNET WITH POTENTIAL TO OFFER LARGE QUANTITIES OF GOLD FROM GHANA.
THESE ARE FAKE SUPPLIERS WHO HAVE NO GOLD TO SELL AND MUST BE INGNORED BY ALL OVERSEAS BUYERS
General Information
10.PROVISION OF PMMC, MINERALS COMMISSION, GEOLOGICAL SURVEY DEPARTMENT AND MINISTRY OF LANDS, FORESTRY AND MINES DOCUMENTS BY A DEALER/SUPPLIER DOES NOT GUARANTEE GENUNINESS OF TRANSACTION AS MANY OF THESE DOCUEMNTS ARE FORGED. DOCUMENTS MUST BE CROSS-CHECKED WITH PMMC.
11.FOR THE AVOIDANCE OF DOUBT, THE PRECIOUS MINERALS MARKETING COMPANY DOES NOT ACCEPT RESPONSIBILITY FOR ANY LOSSES INCURRED BY ANYBODY WHO ACTS CONTRARY TO THESE DIRECTIVES ISSUED BY THE ORDER OF MANAGEMENT.


Gold Small Scale
Gold Operations in Ghana are in two Sectors
The big mining companies; and the small-scale sector. PMMC is responsible for the small-scale, which is comprised of individuals, small and medium size mining companies.
Generally, any mining operation with concession up to 25 acres is considered a small-scale mine. PMMC purchases glod from small-scale miners and in turn export abroad. PMMC already has an existing contract to sell its gold to an overseas gold refinery, however applicants with favourable terms may be considered.
Overseas Buyers seeking to purchase gold from Ghana may contact other licensed gold buyers. However, any offers received from suppliers are to be confirmed with PMMC for advice on genuineness of transaction.
Overseas Buyers of gold are strictly advised NOT to pay cash directly to any local suppliers of gold
Bank of Ghana regulations require that payment for gold suppliers are made by Bank-to-Bank transfer via Bank of Ghana (i.e. The Central Bank of Ghana).
Gold Small Scale
EXPORT PROCEDURES
1. The gold to be exported shall be delivered by the licensed Gold Buyer to PMMC premises by 9.00 a.m for assaying on the day of export, if already smelted. Otherwise the unsmelting gold a day before the dayh of export.
2.The Licensed gold buyer will be required to purchase Gold Export Agreement from PMMC for completion (by the supplier and the overseas buyer) and return for approval.
3. PMMC shall issue Assay Invoice which will indicate the weight and the purity of gold to be exported.
4. The gold to be exported shall be sealed and secured in metal/wooden specie boxes on the day of export by PMMC in the presence of the following group of officers.

Gold Small Scale
Ghana Customs Officers
PMMC Officials
The Licensed Gold Buyer who has requested for the gold export.
5. PMMC will complete the Bank of Ghana and Ghana Custom export documents on behalf of the Local Seller/Gold Buyer.
6.The Licensed Gold Buyer will be required to supply the full address and the telephone number of the overseas destination for the export.
7. PMMC will be responsible to transport the gold to Kotoka International Airport, Accra for delivery to the airline (currently KLM).
8.The Licensed Gold Buyer and the Overseas Buyer shall be responsible for the Insurance and Airfreight charges of the gold to be exported

Gold Small Scale
9. The gold to be exported will be accompanied by the following documents:-
PMMC Assay invoice which will indicate:
• Purity (i.e. Gold content).
• Quantity in ounces and kgs.
• Value in both US Dollars and Local Currency.
The value of the gold will be based on the spot price of the London Metal Exchange (LME) on the day of export.
• Bank of Ghana and the Ghana Customs export documents.
• Airway Bill.
10.Funds in US Dollars representing the export value of the gold should be transferred to PMMC account at the Bank of Ghana (i.e. The Central Bank of Ghana), with The Licensed Gold Buyer noted therein as the beneficiary, prior to the export of the gold. PMMC will provide the Bank transfer instructions to the exporter for the information of the overseas buyer to facilitate the transfer of funds.
Gold Small Scale

11. PMMC fees for the export of gold are :-
Shipment charges : - 0.50% of the export value of the gold
Assay charges : - $50.00 per bar of 5kgs
smelting charges : - $20 per kg. Of gold
These fees are payable on the day of export of the gold.