GoldBod Exports 41.5 Tonnes Of ASM Gold

Sammy Gyamfi

 

The Ghana Gold Board (GoldBod) has recorded a significant increase in gold purchases and exports from Artisanal Small-Scale Mining (ASM) in the first five months of 2025.

According to the GoldBod, the record gold purchases and exports which has exceeded gold exports from the large scale sector, follows a sustained fight against gold smuggling and deployment of effective aggregation systems across the country that helps to mop up over 90% of all ASM gold.

Speaking at the Mining In Motion Summit in Accra, Chief Executive Officer (CEO) of the GoldBod, Sammy Gyamfi, said from February to May, 2025, the GoldBod has purchased and exported for the Bank of Ghana, gold from the ASM sector to the tune of GH¢40 billion, with an export value of approximately $4 billion.

“Indeed, the total gross weight of ASM gold exported either by or through the Precious Minerals Marketing Company (PMMC), now GoldBod, from January to May 2025, stands at a whopping 41.5 tonnes,” he said. “In the just ended month of May 2025 alone, gold purchases and exports by the GoldBod from the artisanal small-scale sector hit a record high of 11 tonnes, with an export value of a staggering $1.172 billion United States dollars.”

He said the initiative, coupled with the prudent monetary and fiscal policies of the government, has significantly increased forex liquidity in the market and accelerated foreign reserves accumulation, leading to the sustained appreciation of the national currency and a positive impact in the living conditions of Ghanaians.

“The data shows the great prospects of the Artisanal Small-Scale Mining sector to our economy and the general well-being of our dear country if properly harnessed. As the President stated yesterday at this summit, ‘artisanal miners are not enemies of the state’ – when properly trained and supported, they can be allies of development,” he said.

He thus reaffirmed the GoldBod’s commitment to tapping and maximising 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 ASM sector.

 

Digital Traceability System/ ASM Investment

Mr. Gyamfi further indicated that although the GoldBod has chalked some initial success, the organisation is determined to fly higher in executing its mandate for the benefit of Ghanaians and investor partners.

He, therefore, observed that before the end of this year, the GoldBod will roll out a digital traceability technology for its entire supply chain.

“This traceability system will enhance market access and value of the country’s ASM gold. In the medium to long term, it will ensure that every gram of gold purchased by the GoldBod is traceable throughout its various custody points, all the way to the mine it was produced. And that mine must be a licensed mine engaged in legal, responsible and sustainable mining in accordance with the mining laws of Ghana and international best practices,” he said.

The GoldBod CEO also shared a list of programmes being put in place to enhance the output of ASM sector.

These include the training of artisanal small scale miners in environmentally-friendly mining and mordern recovery optimisation techniques, investing in the cooperative mining programme of the Ministry of Lands and Natural Resources, and partnering with hard rock small-scale, medium-scale and large-scale mining firms to maximise the sustainable production of gold in the country and national revenue for development.

“Investors who will be partnering the GoldBod in this programme, will receive payments for their investment in discounts on gold over a 24-36 months period,” he said.

 

Anti-Gold Smuggling Taskforce

Mr. Gyamfi also announced that the GoldBod shall in conjunction with the National Security Secretariat launch a standing anti-gold smuggling taskforce, to further strengthen the fight against the illicit menace.

He indicated that all persons who fall foul of the law will be dealt with no matter whose ox is gored. “No one will be spared,” he added.

The GoldBod CEO said the organisation will soon move Ghana away from the export of doré to bullion in the short to medium term.

“We are currently working with local refineries with clear medium-term paths to LMBA accreditation, to ensure that this dream of moving away from the export of doré to bullion becomes a reality,” he said.

He further noted that in line with its mandate as the National Assayer, it has commenced work for the establishment of an international standard (ISO certified and LBMA compliant) assay laboratory by 2026.

“A land for this project has been secured. This international standard assay lab will ensure that all gold being exported from Ghana are subjected to fire assay to ensure accurate purity determination and valuation,” he said.

 

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