The Ghana Gold Board (GoldBod) has intensified efforts to reform and formalise the country’s artisanal and small-scale mining (ASM) sector, following high-level engagements with the World Gold Council (WGC) aimed at strengthening transparency, traceability and responsible gold production.
The engagement, which formed part of ongoing stakeholder consultations, is expected to introduce sweeping reforms to address long-standing challenges within the gold value chain, particularly illegal mining and smuggling.
GoldBod officials say the collaboration reflects Ghana’s determination to align its gold industry—one of the pillars of the national economy—with international best practices on accountability, sustainability and responsible sourcing.
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At the heart of the proposed reforms is the introduction of a blockchain-powered Track and Trace system to monitor gold production nationwide.
The system, expected to be fully operational by the end of 2026, will digitally track gold from the point of extraction at mine sites through processing and export, ensuring that every gram of gold produced in Ghana is properly accounted for.
GoldBod Chief Executive Officer, Sammy Gyamfi, described the initiative as a game changer for the sector.
“This system will verify the legitimate, legal and responsible origin of all gold produced in Ghana,” Mr. Gyamfi said.
“It creates a digital fingerprint that will significantly reduce smuggling while promoting sound and responsible mining practices.”
Ghana’s gold sector has recorded a strong rebound in recent years, largely driven by the ASM segment. In 2025, small-scale miners accounted for about 53 per cent of Ghana’s total gold exports, generating over $9 billion in foreign exchange earnings.
While the figures underscore the economic importance of small-scale mining, authorities remain concerned about the environmental damage, safety risks and revenue losses associated with unregulated mining activities, popularly known as galamsey.
The World Gold Council, a globally recognised authority on gold market development and responsible sourcing standards, is expected to provide technical support and guidance as Ghana rolls out the reforms.
By formalising the ASM sector, GoldBod aims to increase state revenue, curb illegal mining, improve environmental stewardship, and enhance working conditions for hundreds of thousands of miners.
Industry analysts say the initiative positions Ghana to become a continental leader in responsible gold sourcing, as global buyers increasingly demand traceable and ethically produced gold.