GoldBod CEO Outlines Bold Vision for Ghana’s Gold Sector at Mining in Motion Summit

At the Mining in Motion Summit in Accra, the Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi delivered a powerful address outlining Ghana’s transformative path in the gold industry.

Speaking to a distinguished audience—including His Royal Majesty Otumfuo Osei Tutu II, the Hon. Minister for Lands and Natural Resources Emmanuel Armah-Kofi Buah, MPs, diplomats, and mining stakeholders—the CEO emphasized Ghana’s leadership in gold production and reaffirmed the nation’s commitment to responsible and sustainable mining.

Key Highlights from the Address

Ghana’s Gold Paradox

Ghana is currently Africa’s top gold producer, yet has historically struggled to fully reap the benefits of its mineral wealth due to fragmented regulation, poor oversight, and rampant smuggling. The CEO likened the situation to “a butcher starved of protein.”

Establishment of GoldBod

Thanks to the vision of President John Dramani Mahama, the Ghana Gold Board was created to consolidate, regulate, and professionalize the gold trading sector. GoldBod is now the sole legal buyer and exporter of artisanal small-scale (ASM) gold and can purchase gold from large-scale producers under government preemption rights.

Impressive Gains Since 2025

• Gold Purchased (Feb–May 2025): GH¢40 billion (~US$4 billion) worth of ASM gold exported

  

• ASM Gold Exported (Jan–May 2025): 41.5 tonnes—surpassing large-scale exports

• May 2025 Record: 11 tonnes exported, valued at over US$1.17 billion

These results have significantly increased foreign reserves and contributed to the cedi’s appreciation.

Strategic Initiatives Announced

1. Licensing and Regulation

GoldBod is introducing a full licensing regime covering:

• Aggregation

• Buying

• Refining

• Smelting

• Transport

• Export partnerships

Foreign entities are prohibited from direct local purchases but can partner with licensed aggregators or invest in refineries and value-added enterprises.

2. Digital Traceability (Launching 2025)

A new traceability system will ensure every gram of ASM gold is legally sourced and fully traceable—boosting market access and international trust.

3. Artisanal Miner Training (Starts Sept. 2025)

In collaboration with the Ministry of Lands and Natural Resources, GoldBod will train small-scale miners in sustainable, eco-friendly techniques.

4. Anti-Smuggling Taskforce

GoldBod will soon launch a joint task force with National Security to crack down on illegal gold trading. “We shall not rest until every gold smuggler is behind bars,” the CEO declared.

Value Addition and Future Plans

• Move from Dore to Bullion: GoldBod is working with local refineries to shift Ghana’s exports from semi-processed dore to refined bullion.

• Gold Village Initiative: GoldBod supports President Mahama’s vision to establish Ghana as Africa’s hub for gold jewelry and ornaments.

• World-Class Assay Lab (By 2026): An ISO-certified, LBMA-compliant lab is in development to enhance export accuracy and transparency.

Call to International Partners

The CEO concluded by inviting global stakeholders—LBMA, World Gold Council, OECD, and investors—to collaborate with Ghana in responsible mining and value addition.

“Ghana is ready. The GoldBod is prepared. Together, we can elevate the gold industry—preserving the environment, improving lives, and uplifting communities.”