Ghana Gold Board (GoldBod) CEO Sammy Gyamfi has announced that his organization will implement digital traceability technology for its whole supply chain by the end of the year.
The country’s Artisanal Small-scale Mining (ASM) gold would have better market access and value thanks to this tracking mechanism.
It will guarantee that every gram of gold that the GoldBod buys can be tracked back to the mine from whence it was extracted in the medium to long term.
Additionally, that mine needs to be licensed and operating in a way that complies with Ghanaian mining regulations as well as global best practices for ethical, sustainable, and legal mining.
Speaking on Monday, June 2, at the second day of the Mining in Motion Summit in Accra, Sammy Gyamfi emphasized that starting in September 2025, GoldBod will work with the Ministry of Lands and Natural Resources to train artisanal small-scale miners in modern recovery optimization techniques and environmentally friendly mining methods.
“To further increase Ghana’s ASM gold output, the GoldBod and its investor partners will invest in the cooperative mining program of the Ministry of Lands and Natural Resources.”
He said that they would collaborate with hard rock small-, medium-, and large-scale hard rock mining companies to optimize the nation’s sustainable gold production and national development revenue.
According to him, investors who partner with GoldBod in this initiative will get reimbursements for their gold investment discounts over a 24-36-month period.
“Let me also state that the GoldBod is committed to spending a significant portion of our trading surplus on land reclamation and other sustainable initiatives such as the Blue Water and Tree for Life programs launched by the government.
“We will invest in geological investigations to make available accurate geological data for sustainable ASM, medium-scale, and large-scale mining to bring to an end the phenomenon of lottery mining.
“Under our corporate social responsibility policy, a significant chunk of our trade surplus will be invested into the provision of modern education and health facilities, scholarships for brilliant but needy students, potable water systems, and other social-economic projects to alleviate the plight of mining communities, most of whom are victims of the ravages of illegal mining.”
“The days of illegal gold trading and uncontrolled gold smuggling have come to an end.”
“The GoldBod will ensure that Ghana’s gold is traded and exported legally, and the forex proceeds thereof, fully repatriated to support our economy and improve the livelihoods of our people. We shall not rest until every gold smuggler is put behind bars.”
Sammy Gyamfi further disclosed that in order to bolster the fight against the illegal threat, the GoldBod will establish a permanent anti-gold smuggling task taskforce in the upcoming weeks in collaboration with the National Security Secretariat.
“All persons who fall foul of the law will be dealt with no matter whose ox is gored. No one will be spared. We at the Ghana Gold Board understand that value addition is the surest way of maximizing national benefits from the country’s rich mineral deposits. In this regard, the GoldBod will soon move Ghana away from the export of dore’ 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 ore’ to bullion becomes a reality.”
“Let me also say that the GoldBod is open to symbiotic partnerships to actualize the vision of President Mahama to establish a ‘Gold Village’ in Ghana to serve as a hub of gold jewelry and ornaments in Africa.”
Source: newsthemegh.com