The Ghana Gold Board (GoldBod) is taking aggressive steps to overhaul the nation’s mining sector, with a strong focus on sustainability, responsible sourcing, and combating illegal mining. This was the central message delivered by CEO Sammy Gyamfi during his keynote speech at the first-ever Mining and Minerals Convention.
Sammy Gyamfi used his platform to address the long-standing issues of poverty and underdevelopment in a resource-rich Africa, citing a historical failure to leverage mineral wealth. He introduced the GoldBod as the key institution for a new era, one focused on “value retention” rather than “raw extraction.”
As part of its core mandate, the GoldBod has introduced several policy changes. These include initiating aggressive licensing reforms, strengthening regulatory controls over the gold supply chain, and deploying robust aggregation systems to effectively manage gold from all mining districts.
He also highlighted the removal of the 1.5% withholding tax on unprocessed small-scale gold, which has historically been a major incentive for smuggling.
In a move to directly combat illegal mining, the CEO announced the establishment of the GoldBod Task-Force and a reward system for whistleblowers, pledging a direct support to the National Anti-Illegal Mining Operations Secretariat (NAIMOS), which will receive five Toyota Hilux pickups and GHS5 million from the GoldBod next week.
A vital focus of the board’s new policy is environmental sustainability. Sammy Gyamfi announced plans to introduce a nationwide traceability system by the end of the year.
“As directed by H.E. the President of the Republic, the GoldBod will before the end of this year, introduce and commence the implementation of a nationwide traceability system which will ensure that every gram of gold purchased by the GoldBod can be traced back to its verified, licensed and environmentally-compliant mine of origin.” Sammy Gyamfi affirmed.
“Ladies and Gentlemen, I wish to also underscore the commitment of the GoldBod to government’s avowed flight against the illegal mining menace. We at GoldBod recognise the importance of responsible mining and sourcing to the long-term sustainability and viability of Ghana’s mining sector.”
Additionally, a significant financial allocation has been made to support the reclamation of 1,000 hectares of devastated forest reserves, with work set to begin in November, according to the CEO.
Story By: Eugenia Ewoenam Osei
