Ghana [GoldBod channel (small-scale gold)] → United Arab Emirates · Reconcile assays and pay the balance

Mine and concentrate ore on the licensed small-scale area

执行方

Licensed small-scale miner (Ghanaian citizen, individual, group or cooperative)

所需

Small-scale mining licence

形态

Ore (in situ / run-of-mine) → Concentrate / black sand

Licence requirement read in Act 703 s.82(1) and operations in s.93; the ore/concentrate states are general ASM practice.

• Minerals and Mining Act, 2006 (Act 703), ss.82-83

Amalgamate with mercury bought from an authorised mercury dealer, then burn off the mercury to recover sponge gold

执行方

Licensed small-scale miner (Ghanaian citizen, individual, group or cooperative)

形态

Concentrate / black sand → Sponge gold

s.96 allows a small-scale miner to buy "the quantities of mercury that may be reasonably necessary" from an authorised mercury dealer; the amalgam and retort states are industry practice, not in the Act.

• Minerals and Mining Act, 2006 (Act 703), s.96

Melt sponge into a small unstamped doré bar (often done at the buyer's premises)

执行方

Licensed small-scale miner (Ghanaian citizen, individual, group or cooperative)

形态

Sponge gold → Doré bar - unstamped

GoldBod directives call the purchased product 'gold doré'; who melts it is not stated

Weigh on calibrated balances and set purity by XRF (from 1 Sept 2026 the water-density method is no longer definitive; without XRF the doré is bought at a purity discount of at least 0.5% and GoldBod's later XRF assessment is final; successive XRF reports on the same gold must agree within +/-0.05%)

执行方

Tier 2 licensed gold buyer

出具

XRF purity measurement record

• GoldBod XRF directive

Price at the GoldBod published price for the current window (LBMA AM at 10:30 / PM at 15:00, converted at the BoG Reference Rate), plus any approved rate-gap bonus for licensed miners and at most GHS 30 of the Tier 2 buyer's commission

执行方

Tier 2 licensed gold buyer

• GoldBod pricing notices of 23 June 2026; Ghana Gold Board Act, 2025 (Act 1140), s.63(1)(c) and (2) (knowing failure to comply with licence terms), as cited by the threshold notice

Pay the miner and immediately issue the official GoldBod-prescribed receipt showing the exact time of purchase

执行方

Tier 2 licensed gold buyer

所需

Tier 2 buyer licence; XRF purity measurement record

出具

GoldBod-prescribed receipt to the miner

• Ghana Gold Board Act, 2025 (Act 1140), s.67(1): a GoldBod licensee may purchase gold from the local gold trading sector only from GoldBod, a miner or a GoldBod licensee; s.63(1)(f)

Book the purchase with the financing Tier 2 buyer or aggregator within 5 minutes, by phone, text or another approved channel

执行方

Tier 2 licensed gold buyer

所需

GoldBod-prescribed receipt to the miner

出具

Purchase booking with the financing Tier 2 buyer or aggregator (within 5 minutes)

[conflict] gh.div-conflict-booking-citation: the notice cites Act 1140 "Section 64 (1) (c) and (2)", which does not exist (s.64 is about embezzlement of funds and has no (1)(c)); the article is therefore left out. [inferred] A breach is at least a failure to comply with licence conditions (s.63(1)(c)).

• GoldBod compliance notice on timely booking (23 June 2026)

Sell gold bought from miners to a licensed Tier 2 buyer, against a GoldBod-prescribed receipt

执行方

Tier 1 licensed gold buyer

所需

Tier 1 buyer licence; GoldBod-prescribed receipt to the miner

出具

GoldBod-prescribed receipt for an onward sale

• Ghana Gold Board Act, 2025 (Act 1140), s.67(1)

Sell to a licensed aggregator at the official price, against a GoldBod-prescribed receipt

执行方

Tier 2 licensed gold buyer

所需

Tier 2 buyer licence; Purchase booking with the financing Tier 2 buyer or aggregator (within 5 minutes)

出具

GoldBod-prescribed receipt for an onward sale

• Ghana Gold Board Act, 2025 (Act 1140), s.67(1)

Carry gold between buying points and to GoldBod by licensed bullion van with the necessary documentation and authorisation; no tampering with quantity or purity, no diversion (transporting cash or gold other than by licensed bullion van is a material breach of aggregator licence conditions)

执行方

Licensed bullion van operator

• Ghana Gold Board Act, 2025 (Act 1140), s.66(1)

Record supplier and lot under GoldBod's unique ID system and hold KYC on suppliers

执行方

GoldBod-licensed aggregator

出具

Unique supplier and lot ID; Supplier onboarding KYC (documents, beneficial ownership, site verification)

Deliver aggregated doré to GoldBod

执行方

GoldBod-licensed aggregator

所需

Aggregator licence; GoldBod-prescribed receipt for an onward sale

Aggregation is defined as collecting gold "for onward delivery to the Gold Board" (Act 1140 s.74).

• Ghana Gold Board Act, 2025 (Act 1140), s.3(2)(b); s.74

Weigh, grade, assay (XRF standard from 1 Sept 2026) and value the doré

执行方

GoldBod assay laboratory (Kotoka International Airport)

出具

GoldBod assay and valuation certificate

形态

Doré bar - unstamped → Doré bar - stamped/exporter-sealed

• Ghana Gold Board Act, 2025 (Act 1140), s.3(2)(a)

Pay the aggregator in cedis at the GoldBod price. Purchases were funded through Bank of Ghana bills to 2025; from 3 Aug 2026 a new model with commercial banks applies

执行方

Ghana Gold Board (state buyer and exporter)

所需

GoldBod assay and valuation certificate

The funding mechanism is from press analysis; GoldBod has not published the payment procedure

Agree the sale with an international offtaker (pricing basis and discount not published)

执行方

Ghana Gold Board (state buyer and exporter)

出具

Commercial invoice

GoldBod's sale contracts were not seen; the losses analysis reports a ~17% loss on doré sold in 2025

Issue the export authorisation for its own lot (as sole exporter of non-large-scale gold)

执行方

Ghana Gold Board (state buyer and exporter)

所需

GoldBod assay and valuation certificate

出具

GoldBod export approval / export permission

[unconfirmed] Act 1140 s.3(2)(c) makes GoldBod the sole exporter of non-large-scale gold, and "licence" includes any GoldBod approval (s.74); whether GoldBod issues itself a separate export document was not found.

• Ghana Gold Board Act, 2025 (Act 1140), s.3(2)(c)

Apply to the Ghana National Chamber of Commerce and Industry for a certificate of origin for the consignment (gold wholly obtained in Ghana), where the buyer or the importing country's customs requires one

执行方

Ghana Gold Board (state buyer and exporter)

所需

Commercial invoice

出具

GNCCI certificate of origin

[summary] GNCCI as issuer from a summarised read (Ghana Shippers Authority item); [blocked] GNCCI's own page returned 403; [unconfirmed] whether gold exporters in practice obtain a GNCCI certificate, and its fee and form, were not found. [inferred] Treated as optional because no Ghanaian rule requiring it on export was found.

• Customs Act, 2015 (Act 891), s.70(3) (wholly obtained goods originate in Ghana); s.70(6) (certificate of origin provided to the proper officer on request)

Obtain a Bank of Ghana Exchange Control Form A2 from the bank (traditional export); lodge the customs declaration electronically on ICUMS with the export approval, invoice and other certificates attached; present the gold at the exit port or station for customs inspection; release for export

执行方

Ghana Gold Board (state buyer and exporter)

所需

GoldBod export approval / export permission; Commercial invoice

出具

Bank of Ghana Exchange Control Form A2 (from the exporter's bank, traditional exports); ICUMS customs export declaration

[unconfirmed] The GRA procedure is general to traditional exports (it names "Unprocessed gold"); the gold-specific attachments and whether a state exporter uses Form A2 were not found. [not-read] The export-entry sections of the Customs Act 2015 were not read.

• GRA Customs export procedure (traditional exports); Customs Act, 2015 (Act 891)

Ship by air from Accra (Kotoka International Airport) to the offtaker

执行方

Ghana Gold Board (state buyer and exporter)

所需

ICUMS customs export declaration

出具

Air waybill

Air route inferred from GoldBod's assay lab at KIA; carriers and routing not published

Pre-contract KYC on the Nigerian exporter: corporate docs, UBO, MBC/export-permit evidence, mine-of-origin declaration

执行方

DMCC importer / trader

所需

Bank-to-bank reference confirmation (not a public letter) on the Nigerian exporter

出具

Importer's KYC/due-diligence pack on the Nigerian exporter; Evidence pack from the Nigerian exporter: export licence/permit, mine location, legal existence of the ASM operation

[conflict] For an ordinary DMCC trader the binding CDD duties are those of CR 134/2025 (Arts. 5-14); DMCC RBD-GPM binds only its Accredited Members (see ae.div-dmcc-role). [inferred] "Highest-scrutiny category" for ASM is the model's reading of Rule 1.6, not a phrase in the Rules.

• DMCC RBD-GPM Rules v2/2020; Cabinet Resolution 134/2025, DMCC Rules 1.4-1.8 (KYC; Rule 1.6 specific requirements for ASM supply), Rules 2.4-2.8 (red flags); CR 134 Art. 25(1) (records at least 5 years)

File the Dubai Customs declaration on Mirsal 2 with invoice, packing list, certificate of origin and air waybill (for a free-zone consignee the Customer Guide's 'FZ Transit In' type appears to apply, not import to local); disclose the precious metals crossing the border

执行方

DMCC importer / trader

所需

Air waybill; Certificate of origin; Origin country's export authorisation for the gold (permit, licence or clearance issued by the mining or trade authority); Commercial invoice; Packing list

出具

Dubai Customs declaration filed online (for goods entering a free zone: "FZ Transit In"); Disclosure of precious metals crossing the UAE border (cargo included)

No UAE import permit for gold: Dubai Customs lists DMCC as restricting authority only for "Pearls, Diamonds, Rough Diamonds etc." (Customer Guide App. I). FZ Transit In (s.15.12.2): "foreign goods originated from any country may be brought into the free zones without being subject to customs duties or taxes. The owner of the goods in the Documents shall be a Free Zone Licensee"; documents MAWB/HAWB, commercial invoice, certificate of origin, packing list, delivery order. Mainland duty: the GCC exempted list's gold line is printed "71060000" (silver's heading) [summary][blocked]. Cross-border disclosure: see ae.doc-pm-disclosure-ae. [unconfirmed] Neither Dubai Customs guide names the declaration type for gold into a DMCC company or the DMCC Vault. [conflict] Supporting documents are due within 14 days (Customer Guide s.15.7) or 30 days (Service Guide v9 App. A) - see ae.div-customs-doc-deadline. KPMG (secondary): periodic "Goods Consumption within FZ" declaration under Dubai Customs Notice 17/2020.

• Dubai Customs Customer Guide v3.03; Dubai Customs Service Guide v9; Federal Decree-Law 10/2025, Customer Guide s.15.12.2 (FZ Transit In), App. J (DMCC declarations at the Customer Service Center at DMCC); FDL 10/2025 Art. 10 (cross-border disclosure)

Import VAT: registered importer accounts for VAT on its own return (reverse charge); investment-grade gold is zero-rated, doré is not

执行方

DMCC importer / trader

出具

Import VAT accounted on the importer's own VAT return (registered importer)

Investment precious metals = gold, silver or platinum of 99% purity or more, in a form tradeable in global bullion markets (ER Art. 36(2), not amended in the consolidation to CD 100/2025); their supply or import is zero-rated (Art. 45(8)). [inferred] Doré below 99% does not qualify. [unconfirmed] DMCC's absence from the Designated Zones was checked only against the 2017 list (secondary copy). [not-read] FDL 16/2025 amendments (from 1 Jan 2026) not held.

• Federal Decree-Law 8/2017 on VAT; Executive Regulation (Cabinet Decision 52/2017, as amended; consolidated to CD 100/2025), Law Art. 45(8), 48(1), 49; ER Art. 36(2), 48(1), 48(5), 50(1)

If the importer sells the doré to the refiner (rather than toll-refining it): refiner gives two written statements before supply; importer issues a tax invoice without VAT (reverse charge)

执行方

DMCC importer / trader

出具

Refiner's two written statements: VAT-registered, and buying to resell or use in production; Tax invoice without VAT for the importer-to-refiner sale

[inferred] Conditional: the model reads the reverse charge as not applying where the refiner only toll-refines metal the importer keeps title to; the sources read do not address toll refining.

• Cabinet Decision 127/2024; VAT Executive Regulation, CD 127 Art. 2(1), 2(3) (two written declarations before supply; supplier keeps them and verifies registration), 2(4) (no declarations: no reverse charge); ER Art. 59(1)(l)

Deposit refined bars into DMCC Vault (operated by Brink's)

执行方

DMCC Vault (operated by Brink's)

所需

Manufacturer certificate accompanying UAEGD bars (states year of manufacture if not stamped)

出具

DMCC Vault deposit/withdrawal receipt; DMCC Tradeflow warrant (optional; used for pledging and title transfer)

DMCC: the Vault is "Owned by DMCC and operated by Brink's Global Services" and "DMCC can assist with all customs processes". [not-read] Deposit/withdrawal documents and any bonded status of the Vault are not published; the receipt document is inferred.

Reconcile the provisional (origin) assay against the Dubai refiner's outturn assay: within the contract's splitting limit the two assays are commonly averaged; beyond it an umpire assay decides (the assay closer to the umpire's is used, and the party further from it pays the umpire); settle the difference and pay the final balance

执行方

DMCC importer / trader

所需

Refiner outturn/assay report; Commercial invoice

出具

Final invoice from the Nigerian exporter (against Dubai outturn assay); Reconciliation of provisional vs outturn assay; Balance/final payment wire; DPMSR filed in goAML for the final settlement

[unconfirmed] Debit and credit notes are not described in the two contracts read; the Johnson Matthey contract settles by metal credit, adjusted after the umpire result.

• Refining/sale contract settlement clause -- splitting limit + umpire assay if the two figures diverge beyond it

Sell FX from gold exports to commercial banks (spot and funded forwards) and supply the rest to the Bank of Ghana for reserves under GANRAP (from 3 Aug 2026; Aug 2026: US$668.21m to banks, US$646.59m to BoG)

执行方

Ghana Gold Board (state buyer and exporter)

出具

FX sale confirmation (spot or funded forward)

Repatriate export proceeds through sales of FX and bullion to the Bank of Ghana and transfers through Ghanaian commercial banks, keeping any retention account the Minister for Finance allows

执行方

Large-scale mining company (mining lease holder)

Act 703 s.30(2) read: the Minister for Finance may permit a lease holder with foreign-exchange earnings to keep "not less than twenty five percent" in a retention account. [summary] A BoG notice of 30 Oct 2025 (reported by GhanaWeb) requires exporters to repatriate proceeds through their nominated bank within 120 days of shipment (one 60-day extension); the notice and the Foreign Exchange Act 2006 (Act 723) are not held. Share repatriated is disputed: Chamber of Mines ~70% (70.8% in 2024) vs GoldBod 20%.

• Minerals and Mining Act, 2006 (Act 703), s.30(2)