GENERAL INFORMATION

The Precious Minerals Marketing Company Limited (PMMC) wishes to inform all foreigners who intend to purchase gold and diamonds in Ghana to be guided as detailed hereunder, in order to avoid being swindled by fake dealers.

1. All offers received from individual's private mining companies, licensed buyers, for the supplies of gold and diamonds, are to be confirmed with the

Precious Minerals Marketing Company Limited. Diamond house, Accra. All such correspondences are to be addressed to the managing director, P. O. Box m.108, Accra for advice. Telephone numbers: - 00-233-21-664931, 663932, 664933, 664934, 664350, 664360. Fax number: 00-233-21-662586. Email: - pmmc@ghana.com

2. Prospective buyers are strictly advised not to make any payments in cash for gold and diamonds supplies directly to individuals, private companies, or licensed buyers. Payments for gold and diamonds are made through Precious Minerals Marketing Company by bank transfers from citi bank, New York, to the bank of Ghana (i.e. the central bank of Ghana.)

3. All exports of gold and diamonds are done by the Precious Minerals Marketing Company Limited on behalf of sellers/suppliers to overseas buyers’ destinations, after inspection and sealing by the Ghana customs service.

4. Anyone who claims to have gold and diamonds for sale should be informed to deliver the gold and diamonds at the Precious Minerals Marketing Company Limited, for testing / assaying. Thereafter, the Precious Minerals Marketing Company Limited will confirm the genuineness and value, of the gold or diamonds to the overseas buyers.

5. Overseas buyers are to note that gold is normally sold in Ghana in the smelted (i.e. Bars) form, and very rarely in the dust form. Offers for sale of gold dust at ridiculously low prices are not genuine and should be ignored. Pricing of gold in Ghana are based on the London metal exchange (lme) quotes.
Therefore offers with big discounts ranging from 20% to 50% are only meant to deceive overseas buyers to part with cash to the fake dealers, who normally ask for fees in respect of incidental expenses like transportation, commission, security, “movement”, handling, documentation, insurance etc. All such fees are incorrect.

6. Inspection and assay certificates purported to have been issued by SGS may not be genuine, and should be cross-checked

7. Presentations made to foreigners about large holdings of gold dust by people designated as chiefs, relatives of famous and respected chiefs, land owners, & miners, etc. Are not to be believed. For all such claims, the owners should be directed to deliver the gold at precious minerals marketing company limited, for testing & valuation, as indicated in (4) above.

8. The offices of Precious Minerals Marketing Company Limited are only at the diamond house, near the ministry of foreign affairs, and adjacent to the registrar-general’s department, in Accra. The contact addresses are as indicated in (1) above. Any other locations given by fake dealers are not correct

9. There are several addresses of self-acclaimed gold suppliers on the internet with potential to offer large quantities of gold from Ghana.

These are fake suppliers who have no gold to sell and must be ignored by all overseas buyers.

10. Provision of PMMC, Minerals Commission, Geological Survey Department and Ministry of Lands and National Resources documents by a dealer/supplier does not guarantee genuineness of transaction as many of these documents are forged. Documents must be cross-checked with PMMC.

11. For the avoidance of doubt, the Precious Minerals Marketing Company does not accept responsibility for any losses incurred by anybody who acts contrary to these directives issued by the order of management.