The Ghana Gold Board (GoldBod) has outlined a bold vision for the country’s gold mining sector, emphasizing sustainable practices, responsible sourcing, and value addition.
Speaking at the Mining in Motion Summit in Accra, Chief Executive Officer of the GoldBod highlighted the board’s commitment to transforming the sector and maximizing benefits for Ghanaians.
According to the CEO, the GoldBod has made significant strides since its establishment, including tightening regulatory controls, launching a ruthless fight against gold smuggling, and deploying effective aggregation systems across the country. These measures have resulted in unprecedented gold purchases and exports, with the board purchasing and exporting gold worth 40 billion Ghana cedis ($4 billion) from February to May 2025.
The CEO emphasized that the GoldBod is committed to tapping and maximizing the full potential of the artisanal small-scale mining sector by supporting sustainable artisanal mining and promoting responsible sourcing by all gold traders in the sector. To achieve this, the board has begun the licensing of all players in the gold trading sector, with license categories ranging from aggregation licenses to buying licenses, refining licenses, smelting licenses, transportation licenses, and export partnership licenses.
The GoldBod has also announced plans to roll out a digital traceability technology for its entire supply chain, which will enhance market access and value of the country’s artisanal small-scale gold. The board will also invest in land reclamation and other sustainable initiatives, such as the Blue Water and Tree for Life programs launched by the government.
In addition, the GoldBod will partner with hard rock small-scale, medium-scale, and large-scale mining firms to maximize the sustainable production of gold in the country and national revenue for development. The board will also invest in geological investigations to make available accurate geological data for sustainable mining.
The CEO emphasized that the GoldBod is committed to spending a significant portion of its trading surplus on social-economic projects to alleviate the plight of mining communities. The board will also invest in modern education and health facilities, scholarships for brilliant but needy students, and potable water systems.
The GoldBod has also announced plans to establish an international standard assay laboratory by 2026, which will ensure that all gold being exported from Ghana is subjected to fire assay to ensure accurate purity determination and valuation.
The Ghana Gold Board has charted a new course for the country’s gold mining sector, emphasizing sustainable practices, responsible sourcing, and value addition. With its commitment to transparency, accountability, and social responsibility, the GoldBod is poised to make a significant impact on the lives of Ghanaians and contribute to the country’s economic development.
Key Highlights:
– The Ghana Gold Board has purchased and exported gold worth 40 billion Ghana cedis ($4 billion) from February to May 2025.
– The board has begun the licensing of all players in the gold trading sector to promote responsible sourcing and traceability.
– The GoldBod will roll out a digital traceability technology for its entire supply chain to enhance market access and value of artisanal small-scale gold.
– The board will invest in land reclamation and other sustainable initiatives, such as the Blue Water and Tree for Life programs.
– The GoldBod will partner with mining firms to maximize sustainable gold production and national revenue for development.
– The board will establish an international standard assay laboratory by 2026 to ensure accurate purity determination and valuation of gold exports.
Implications:
– The Ghana Gold Board’s initiatives are expected to have a significant impact on the country’s economy and the lives of Ghanaians.
– The board’s commitment to sustainable practices, responsible sourcing, and value addition is likely to attract investors and promote economic development.
– The establishment of an international standard assay laboratory will ensure that Ghana’s gold exports meet international standards, enhancing the country’s reputation as a reliable gold producer.
