President John Dramani Mahama has signed the Ghana GoldBod Bill, 2025, into law, marking a significant milestone in the country’s efforts to formalize and regulate its gold sector.
The new law establishes the Ghana GoldBod as a regulatory body responsible for overseeing the buying, selling, and export of gold. The board will play a crucial role in ensuring the traceability of gold, reducing illegal mining, and promoting sustainable practices.
With the President’s assent, the Ghana GoldBod becomes the exclusive buyer of gold from licensed small-scale miners. This move is designed to support fair prices and better working conditions for small-scale miners, who are a critical part of Ghana’s gold sector.
According to Sammy Gyamfi, Managing Director of the Precious Minerals Marketing Company (PMMC), “This move is expected to have a positive impact on the livelihoods of thousands of small-scale miners and their communities.”
The establishment of the Ghana GoldBod is a key initiative of President Mahama’s administration, aimed at maximizing the country’s gold resources and stabilizing its currency. Ghana is Africa’s leading gold producer, and the gold sector is a significant contributor to the country’s foreign exchange earnings.
The GoldBod’s establishment is also expected to promote transparency and accountability in the gold sector. The board will ensure that all gold exports are properly documented and accounted for, reducing the risk of gold smuggling and other illegal activities.
The signing of the GoldBod Bill into law marks a significant step forward for Ghana’s gold sector. With the GoldBod in place, the country is well-positioned to maximize the benefits of its gold resources, promote sustainable mining practices, and contribute to economic growth and development.