The Precious Minerals Marketing Company (PMMC) has expressed deep concern over a disruption at the National Assay Centre at the Aviance Cargo Terminal on Tuesday, December 17, 2024. The incident, involving a mob led by Joseph Yammin, National Organiser of the National Democratic Congress (NDC), allegedly attempted to seize bullion bars being processed for the Bank of Ghana under the Domestic Gold Purchase Program (DGPP).
In a press release issued by PMMC, the company clarified that the bullion bars, part of the Central Bank’s ongoing initiative launched in June 2021, were being assayed to verify their weight, purity, and value.
The process was disrupted by Mr. Yammin and his group, who accused unnamed political actors of attempting to smuggle the gold out of Ghana—a claim PMMC described as baseless.
The standoff, which began around 4:00 PM and lasted until midnight, was resolved only after the intervention of the police. It was agreed that the bullion bars, along with gold belonging to a private licensed exporter also affected by the incident, be transferred to the Greater Accra Regional Police Command for safekeeping.
PMMC noted that such actions undermine Ghana’s reputation in the international bullion market, potentially eroding the confidence of global buyers and damaging the country’s credibility as a trusted gold trade partner.
The company condemned the actions of the mob, highlighting the risks posed to its staff, who were lawfully performing their duties. PMMC stressed that threats and intimidation create a hostile working environment and jeopardise the systems designed to ensure transparency and integrity in Ghana’s gold trade.
PMMC emphasised that a simple verification with relevant authorities, such as PMMC and the Bank of Ghana, could have clarified the legitimacy of the bullion processing and avoided the embarrassing incident.
The statement reiterated PMMC’s commitment to promoting transparency, accountability, and compliance with legal and regulatory standards in Ghana’s gold industry. The company vowed to collaborate with stakeholders to protect the integrity of the country’s precious minerals sector.
“This unlawful action is deeply regrettable and has the potential to cause significant harm to Ghana’s reputation on the international bullion market,” the statement read.
PMMC called for restraint and due process in addressing concerns related to the gold trade, underscoring its role as the national assayer committed to responsible and transparent gold trade practices.
Read the full press release: PMMC PRESS RELEASE – 18 DECEMBER 2024 (1)