NCSSMAG Endorses GOLDBOD to Ensure Fair Pricing for Small-Scale Miners
Association Calls for Swift Action on Gold Board to Boost Industry and Stabilize Economy
- The association views this initiative as long overdue and believes it will bring much-needed reforms
- NCSSMAG praised the transparency and consultative approach adopted by the Sammy Gyamfi-led GOLDBOD Technical Committee.
- The association believes that the GOLDBOD will be a key tool for Ghana in generating significant foreign exchange
The National Concerned Association of Small-Scale Miners, Ghana (NCSSMAG) has expressed its full support for the Mahama government’s decision to establish a Gold Board to regulate the trading of gold from small-scale miners.
The association views this initiative as long overdue and believes it will bring much-needed reforms to the sector by ensuring fair pricing, eliminating exploitation by foreign buyers, and optimizing the national benefits from small-scale mining activities.
In a statement issued on March 4, 2025, NCSSMAG praised the transparency and consultative approach adopted by the Sammy Gyamfi-led GOLDBOD Technical Committee.
The association commended the government for prioritizing the creation of a well-structured gold trading sector, which NCSSMAG has been advocating for.
Michael Kwadwo Peprah, President of NCSSMAG, expressed his excitement over the proposal to use the GOLDBOD to support small-scale miners through several initiatives, including geological investigations, equipment financing, concession viability, sustainable environmental management, and corporate social responsibility projects in mining communities.
He believes this will be a game-changer for the industry.
“We are thrilled to see that our long-standing suggestion for a well-structured gold trading sector is being prioritized by the new Mahama government. The establishment of GOLDBOD will not only ensure fair pricing for small-scale miners but also bring crucial support to the communities where they operate,” Peprah stated.
NCSSMAG also pointed out that while the Precious Minerals Marketing Corporation (PMMC) is legally permitted to buy gold from small-scale miners, it has been unable to effectively compete with foreign buyers due to insufficient government funding.
This has led to a situation where miners are forced to sell to foreign buyers, resulting in significant revenue losses for both miners and the state. The association also highlighted the challenges posed by the proliferation of multiple state agencies involved in the local gold market.
In light of these issues, NCSSMAG is calling on the Mahama government and Parliament to allocate sufficient resources to the proposed Gold Board to ensure it functions as a well-structured and effective market for small-scale miners.
The association believes that the GOLDBOD will be a key tool for Ghana in generating significant foreign exchange and stabilizing the cedi, particularly during these challenging economic times.
“At this time of economic crisis, the GOLDBOD offers Ghana a sustainable path to generate foreign exchange and stabilize the cedi. We urge the government to expedite the processes for the establishment of GOLDBOD as a matter of urgency,” Peprah added.
NCSSMAG expressed hope that all stakeholders, including the government, political parties, and mining communities, would rally behind this important initiative for the greater good of the nation.
With the backing of NCSSMAG and the potential benefits for the small-scale mining sector, the establishment of GOLDBOD could mark a significant turning point in Ghana’s gold trading market, creating a fairer and more transparent environment for all involved.
