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 Institutions » Precious Minerals Marketing Company (PMMC)  
Precious Minerals Marketing Company

PMMC OfficeThe company was established in 1963 as Ghana Diamond Marketing Board charged with the responsibility for the purchase and marketing of the country's diamonds. In 1965, by Legislative Instrument (LI) 401, the company was incorporated as a State Owned Enterprise (SOE). With the promulgation of the diamonds decree (NRCD 32) in 1972, LI 916 was enacted to change the company's name to Diamond Marketing Corporation.

In 1989, PNDC Law 219 was enacted to yet again change the company's name to the Precious Minerals Marketing Corporation. Finally in year 2000, It was converted by Act 461 (statutory corporations conversion to companies Act) to a limited liability company to operate under the Ghana's companies code (Act 179 of 1963) as Precious Minerals Marketing Company Limited. The company's head office is located in its Diamond House building in Accra situated on the Kinbu Road opposite the Registrar-General's Department and adjacent to the Ministry of Foreign Affairs.

The company operates in all the small-scale Gold and Diamond centres of the country namely: Accra, Kumasi, Tarkwa , Bolgatanga and Wa through its own offices and local Agencies. For its jewellery operations the company operates its own shops in Accra at Diamond House and on the Osu Oxford Street. In Kumasi its shop is in the Prime Plaza Building at Ahodwo.

  
Mission Statement

 The mission of the Company is to buy from small-scale miners and sell precious minerals such as diamond and gold profitably, so as to enhance Ghana's foreign exchange earnings from this sector as well as to promote the development of such minerals and the jewellery industry in the country. 

  
Management

The Company's Board of Directors was reconstituted in August 2009 and it is composed of the following six (6) members who have varied business experiences:

  • Mr. Kwabena Kyereh - Chairman
  • Mr. Mike Ezan - Director
  • Mr.Alhajj Sanni Mohammed - Director
  • Kwadwo Otu–Essel - Director
  • Mr. Seth Klaye - Director
  • Mr. R.D. Damptey – Managing Director

The Management of the company is made up of the Managing Director: Mr. R. D. Damptey. In support are the Heads of the various Departments of the company:-

  • Mr. Jacob Adodoadji - Research and Development
  • Nora Abutiate - Corporate Planning
  • Lt. Col (Rtd) Edward Awuah - Security
  • Mr. Jacob Essel – Gold Buying
  • Mrs. A. Owusu Mensah – Public Relations
  • Mr. Bernard Anang - Finance
  • Mrs. Sharon Quaye – Marketing
  • Ms. Alice Saanuo – Administration
  • Mr. Ofori Amanfo - Metallurgist
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Major Achievements

FOREIGN EXCHANGE EARNINGS
From its operations in the exports of precious minerals (Gold and Diamonds) and the sale of jewellery, the company generates annually foreign currency inflow fully repatriated into the country and sold to various banks in the country for operations in support of the country’s economy.

DIVIDEND AND CORPORATE TAXES
Since 1997, the company has paid dividend annually to its sole shareholder, the Government of Ghana. The company is up to date in its corporate tax obligations to the Internal Revenue Service, as well as contributing to the Government revenue such as VAT, Corporate Tax and SSNIT

PME SYSTEM
Under the Performance Monitoring and Evaluation (PME) system by the State Enterprises Commission for all State Owned Enterprises (SOEs), the company has consistently been adjudged among the best SOEs in the country; for example, for 1997 assessment, it was ranked twenty third among twenty eight (28) participating organisations.

CLUB 100
The company has maintained its membership of the Ghana Club 100, which groups the 100 best companies in the country, administered by the Ghana Investment Promotion Centre.

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Contact Details

The Managing Director
Precious Minerals Marketing Company Ltd. 

Location: Diamond House, Kinbu Road, Accra
Postal Address: P.O. Box M 108, Accra, Ghana
Tel: (233) 302 – 664931-4 / (233) 302 - 664579
Fax: (233) 302 – 662586
E-mail: pmmc@ghana.com
             info@pmmc.ghanamining.org
Website: www.ghana-mining.org
               www.pmmcghana.com
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