DIAMOND LICENSE & EXPORT PROCEDURES
PMMC is responsible for the marketing of the rough diamonds produced in Ghana. The marketing system in operation is open to all prospective foreign companies desirous of purchasing Ghana diamonds. Interested foreign companies are required to send applications indicating their intentions to purchase diamonds in Ghana, for consideration.
Diamond Purchase & Export Procedures
- Interested Companies are required to send applications to PMMC for License to purchase rough diamonds in Ghana on company letterhead. If you have questions, please send us a mail.
- PMMC will supply the pre-requisite forms to be completed and returned by the company. The processing fee is US$1,200.00 ( One Thousand Two Hundred USD ). There will be a service charge for enquiries of US$20 for foreigners and for Ghanainas GH¢20
III. Upon approval the applicant will be issued a License for a period of one year renewable
- PMMC License fee is: US$18,000 (Eighteen thousand USD). Renewal fee is US$12,000 per annum
- PMMC will conduct due diligence report on the Company. Due diligence charge is US$200
- The receipt of a satisfactory due diligence report entitles the company to annual renewal of license.
VII. Companies issued with a license will be provided with furnished office accommodation in the PMMC Diamond House Building in Accra.
VIII. All purchasing of the diamonds must be done in the office at the Diamond House.
- Companies issued with a license will be required to have a diamond valuer who will be resident in Accra, Ghana, to purchase the rough diamonds on their behalf, directly from the local Winners (i.e. Suppliers).
- Funds for the purchase of the diamonds in Ghana are to be transferred from the License holders Bank to PMMC Account at the designated Bank in Ghana prior to the commencement of purchases.
- Diamonds are not to be purchased by direct cash payments, but through Bank to Bank payments. PMMC will supply details of the Bank transfer instructions to the License holder to facilitate the transfer of funds for operations.
XII. Diamonds purchased by license holders will be secured in metal specie boxes at the end of each working day, to be kept in PMMC vault and released upon request by the license holder.
XIII. Exports (shipment) of the rough diamonds purchased will be undertaken by PMMC upon the request of the License holder to a designated overseas address, given by the License holder for Diamonds purchased, must be paid for prior to shipment
XIV. PMMC will complete all the export documentation (i.e. Bank of Ghana and Ghana Customs Excise Preventive Services’ forms); and organize the sealing of the parcel on behalf of the License holder.
The diamonds to be exported shall be accompanied by the following documents.
- Invoice indicating quantity in carats and value in both US Dollars and local currency.
- Bank of Ghana and Customs export documents.
- Airway Bill.
- Kimberley Process Certificate.
XIV. PMMC will be responsible for the delivery of the parcel to be exported to the Airline (currently KLM) at the Kotoka International Airport, Accra.
XVI. PMMC charges export fee of two point three percent (2.3%) per parcel of diamonds to be exported.
A License may be cancelled for any of the following offences: –
- Unsatisfactory due diligence report on the Company.
- Inactivity of the License holder for a period of one month, without prior notice to PMMC.
- Purchasing diamonds outside the Diamond House Office allocated to the License holder
- Purchasing diamonds from only some selected local winners.
- Using the office allocated for other purposes other than the purposes of buying the diamonds.