The Precious Minerals Marketing Company (PMMC), acting as the National Assayer of Ghana, has expressed grave concern over an incident that occurred on Tuesday, 17th December 2024, at its National Assay Centre, located at the Aviance Cargo Terminal in Accra.
The disruption, which lasted from 4:00 p.m. until midnight, was allegedly led by Mr. Joseph Yammin, the National Organizer of the National Democratic Congress (NDC).
According to PMMC, Mr. Yammin and a mob forcibly attempted to seize bullion bars being processed by the company on behalf of the Bank of Ghana under its Domestic Gold Purchase Program (DGPP).
The program, launched in June 2021, aims to bolster Ghana's gold reserves by purchasing gold domestically.
PMMC clarified that the bullion bars were undergoing an assay process to verify their weight, purity, and value when the group stormed the facility, alleging the gold was being secretly smuggled out of the country by political actors.
The company dismissed these allegations as false.
The incident prompted PMMC and the Bank of Ghana to seek police intervention.
After hours of negotiation, the gold bars, along with gold belonging to a private licensed exporter also affected by the disruption, were transferred to the Greater Accra Regional Police Command for safekeeping.
In a statement, PMMC described the actions of the mob as “unlawful and deeply regrettable,” warning that such incidents could tarnish Ghana's reputation on the international bullion market.
“This disruption undermines the confidence of legitimate international gold buyers and jeopardizes Ghana's standing as a trusted player in the global gold trade,” the statement read.
PMMC further highlighted the risks posed to its staff, who were performing their lawful duties in compliance with Ghana’s regulatory standards.
The company condemned the threats and intimidation faced by its employees, emphasizing the importance of maintaining a secure and transparent environment for Ghana's gold trade.
The management of PMMC urged the public to seek verification from relevant authorities, including the Bank of Ghana and PMMC, before making unfounded allegations that could harm the industry.
“PMMC remains resolute in its commitment to transparency, accountability, and adherence to legal and regulatory standards governing gold exports. We will continue working with stakeholders to safeguard the integrity of Ghana’s gold trade,” the statement concluded.
The company reassured the public of its dedication to promoting responsible gold trade to protect the interests of Ghana’s precious minerals sector.
Story by: Joshua Kwabena Smith