The licensing of registered companies to buy and export gold is backed by law. The application for the licence is submitted to the Minerals Commission for review and subsequently recommended to the Hon. Minister responsible for Lands and Natural Resources if deemed appropriate.

The Hon. Minister may then grant the licence, if the recommendation is accepted. The Hon. Minister does this in accordance with the powers conferred on him under sections 6 and 104 of the Minerals and Mining Act, 2006, (Act 703) as well as Regulation 4 of the Minerals and Mining (General) Regulations, 2012 (L.I.2173).

It is worth mentioning that the grant of licence to deal in gold is not discriminatory between nationality, race, tribe or colour. The applicant must meet certain technical and financial conditions without which the Hon. Minister may not grant the licence.