PRECIOUS MINERALS MARKETING COMPANY (PMMC)
The Precious Minerals Marketing Company (PMMC) Ltd was established in 1963 as Ghana Diamond Marketing Board charged with the responsibility for the purchase and marketing of Ghana’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 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 adjacent to the Registrar-General’s Department and next to the Ministry of Foreign Affairs.
Although PMMC is an independent entity, the Ministry provides advisory support and policy directions for the entity in view of its area of operations.
The Company operates in all the small-scale Gold and Diamond areas in the country namely: Accra, Kumasi, Tarkwa, Bolgatanga, Akwatia, Oda and Wa with offices and other local Agents.
For its jewellery operations the company operates its own shops in Accra, at Diamond House and in the Mark Coffie House on the Osu Oxford Street. At Kumasi, its shop is in the Ampomah Arcade building at Adum. In Tema the shop is located in the main building of the Trust Bank and in Takoradi on Liberation Road near the N.I.B. Bank and at the Airport departure lounge.
To attain market leadership in purchase of gold from small scale miners , diamond trading and manufacture and sale of jewellery in Ghana and service provision to gold exporters.
To trade cost-effectively in gold and diamonds locally and internationally, efficiently produce quality jewellery through highly skilled and motivated staff to ensure customer satisfaction and enhance shareholders value.
- To grade, assay, value and process precious minerals.
- To buy and sell precious minerals
- To appoint licensed buyers for the purchase of precious minerals produced by small-scale miners.
- To carry on any trade and business whatsoever, which can , in the opinion of the Directors, be profitable ancillary to the general business of the company
- To promote the development of precious minerals and the jewelry industry in Ghana.