The Company was established in 1963 as Ghana Diamond Marketing Board charged with the responsibility for the purchase and marketing of the country'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.
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 local Agencies.
For its jewellery operations the company operates its own shops in Accra, at Diamond House and on the Osu Oxford Street. At Kumasi, its shop is in the Ampomah Arcade building at Adum.