PMMC Denies Gold Smuggling Allegations, Accuses NDC’s Joseph Yammin of Leading Mob Attack

Dec 19, 2024 - 15:32

Joseph Yammin is the National Organizer of the National Democratic Congress (NDC)

Ghana's Precious Minerals Marketing Company (PMMC) has condemned an alleged attempt by a mob, led by National Democratic Congress (NDC) National Organiser Joseph Yammin, to seize bullion bars being processed for the Bank of Ghana.

In a statement issued on Dec 18, PMMC described the incident, which occurred on December 17, 2024, at the National Assay Centre as a threat to national security and the smooth operation of PMMC's mandate.

According to PMMC, the bullion bars in question are part of the Bank of Ghana's Domestic Gold Purchase Programme (DGPP), launched in June 2021. The company emphasized that the assay process was disrupted by the mob, who alleged that the bullion bars were being smuggled out of Ghana by political actors. PMMC has refuted this allegation as false.

The incident has sparked concerns about the potential harm to Ghana's reputation on the international bullion market. PMMC has warned that such disruptions undermine the confidence of international gold buyers and threaten Ghana's standing as a trusted player in the global gold trade.

PMMC has called for a thorough investigation into the incident and has reiterated its commitment to ensuring transparency, accountability, and compliance with all legal and regulatory standards governing the export of gold.

“This unlawful action is deeply regrettable and has the potential to cause significant harm to Ghana’s reputation on the international bullion market. Such disruptions not only undermine the confidence of legitimate international gold buyers but also threaten the country’s standing as a trusted player in the global gold trade. Furthermore, these acts place the Ghanaian men and women who are lawfully discharging their duties at significant risk.

“The dedicated staff, who are committed to ensuring compliance with Ghana’s strict regulatory standards, should not have to face threats or intimidation while performing their legitimate responsibilities. This creates a hostile environment and undermines the very systems designed to ensure transparency and integrity in Ghana’s gold trade.''

“The management of PMMC stands resolute in its commitment to ensuring transparency, accountability, and compliance with all legal and regulatory standards governing the export of gold. We will continue to collaborate with relevant stakeholders to safeguard the integrity of Ghana’s gold trade. PMMC reiterates its commitment to upholding its mandate as National Assayer and will not relent in promoting responsible gold trade to protect and advance the interests of Ghana’s precious minerals industry,” portions of the statement read.

Find the statement from PMMC below.