Ghana’s Premier jeweller, the Precious Minerals Marketing Company Limited (PMMC) has opened a new jewellery outlet at the Marina Supermarket on the Spintex Road in Accra.
The move is in line with the company’s quest to meet the ever-growing demand and also better serve clients in and around Spintex, Sakumono Lashibi, Teshie, Tema and adjoining communities.
The Spintex outlet which is the second biggest, brings to seven the number of jewellery shops operated by PMMC across the country.
Addressing journalist on the sidelines of the opening of Spintex outlet on Tuesday(3 September), Managing Director of PMMC, Nana Akwasi Awuah announced a 10% percent discount for customers who will purchase item at the newly opened shop on Tuesday.
“I want to say a big thank you to the team that helped put this together, its been a relentless effort, teamwork with the support of the entire team, they have been very helpful.
“But It is something, I really appreciate. This is our latest shop on the Spintex Road, what we have sought to do is to expand our outreach.”
“We are into the business of value addition of our precious minerals, which is one of the key promises that this government made since 2017, and it has been relentless in pushing that and on our part what we have done to support this is to ensure that we bring that value addition to the doorstep of every Ghanaian,” he said.
About PMMC
Precious Minerals Marketing Company (PMMC) Ltd was established in 1963 as Ghana Diamond Marketing Board charged with the sole responsibility of 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 with the following functions:
- To grade, assay, value, and process precious minerals.
- To buy and sell precious minerals.
- To perform any functions conferred upon it by the Diamond Decree, 1972 (N.R.C.D. 32).
- To appoint licensed buying agents for the purchase of precious minerals produced by small scale-miners.
- To promote the development of the precious minerals and jewellery industry in Ghana.
- To do all such things as are incidental or conducive to the attainment of its objectives and functions.
Finally, in the 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 with the same functions under the PNDC Law 219.
The following have been the functions of the Company until 2016 when most of the functions changed as a result of the appointment of PMMC as the government assayer.
- Grading, assaying, valuing, and processing precious minerals.
- Buying and selling precious minerals.
- Appointment of licensed buyers for the purchase of precious minerals produced by small-scale miners.
- Production of jewellery.
- To carry on trade and business whatsoever which can, in the opinion of the directors, be a profitable ancillary for the general business of the Company.
The Company now operates as the government’s assayer with the sole mandate of assaying all gold that leaves the country. The jewellery production is also a subsidiary of the Company, operating under the name PMMC Jewellery Ltd (PJL). The Company is located in the Diamond House building in Accra, which is situated on the Kinbu Road, adjacent to the Registrar-General’s Department and next to the Ministry of Foreign Affairs.
