Ghana’s artisanal small-scale mining (ASM) sector has outshone large-scale mining in a groundbreaking milestone, with gold exports hitting a record $4 billion between February and May 2025, according to Mr. Sammy Gyamfi, Chief Executive of the Ghana Gold Board (GoldBod).
Delivering the news at the Mining in Motion Summit held at the Kempinski Hotel in Accra on Tuesday, June 3, 2025, Mr. Gyamfi revealed that ASM gold exports had surpassed those of the large-scale mining sector for the first time in Ghana’s history. “In May alone, we exported 11 tonnes of ASM gold, valued at $1.172 billion—a testament to the power of robust regulation and structure,” he declared.
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The CEO disclosed that from January to May 2025, GoldBod, formerly the Precious Minerals Marketing Company (PMMC), facilitated the export of 41.5 tonnes of ASM gold, marking a significant leap in the formal gold trade. This remarkable achievement, he noted, stems from the visionary leadership of President John Dramani Mahama, who established GoldBod to stabilize a once-fragmented and poorly regulated sector.
“Thanks to President Mahama’s foresight, a bleeding sector has been transformed. GoldBod is now the central state agency for buying, selling, assaying, refining, and exporting gold,” Mr. Gyamfi stated.
To curb gold smuggling, GoldBod has tightened regulatory controls and introduced an efficient aggregation system, capturing over 90% of ASM gold production. The CEO announced the creation of a standing anti-gold smuggling task force, in partnership with the National Security Secretariat, to ensure strict enforcement of the law. “We will not rest until every gold smuggler is brought to justice,” he vowed.
GoldBod plans to launch a digital traceability system by the end of 2025, enabling every gram of exported gold to be traced to a licensed, responsible mine. This initiative aims to enhance market access and elevate the value of Ghana’s ASM gold. Additionally, GoldBod has begun issuing licenses for aggregation, refining, and transportation, working closely with the Bank of Ghana and the Financial Intelligence Centre to enforce rigorous due diligence.
Sammy Gyamfi extended an open invitation to international partners interested in value addition, refining, and sustainable sourcing. “Foreign investors are welcome to apply directly to GoldBod for gold purchases, off-take agreements, or investments in refineries and jewellery factories,” he said.
In line with its corporate social responsibility commitments, GoldBod pledged to reinvest trade surpluses into land reclamation, potable water systems, education, health infrastructure, and scholarships for mining communities. The Board is also collaborating with local refineries to achieve London Bullion Market Association (LBMA) certification, shifting Ghana’s exports from raw ore to refined bullion. “We are crafting a new gold narrative for Ghana—one of value, sustainability, and prosperity,” Mr. Gyamfi affirmed.
He called on global investors to seize the opportunity, emphasizing that GoldBod is ready to drive transformative dividends while preserving the environment, uplifting lives, and empowering communities.