Precious Minerals Marketing Company (PMMC), a gold and other minerals exporting company in the country on Wednesday 27th September, 2017 confirmed that its license has been revoked by the Bank of Ghana.
The development follows an ongoing investigation over an alleged US$ 2.3 billion worth of gold unaccounted for by the company.
Confirming the development - Chief Executive Officer of PMMC, Kojo Opare Hammond told the media that “as at now, we are not doing shipping of Gold. Even with our diamond which we do not have any problems with, most of the time I have to really go and plead with them (BoG) to allow us to move. In fact, Bank of Ghana is really upset with this situation that we came to find ourselves in. But as we speak now, PMMC cannot export goods because of what happened previouslyâ€.
PMMC is a limited liability company with the Government of Ghana as the sole shareholder and was last year- 2016, announced by the Bank of Ghana as the country’s sole exporter of gold.