The Ghana Gold Board (GoldBod) has announced plans to allocate up to 30 percent of its surplus to support the development of the small-scale mining sector, as part of efforts to strengthen Ghana’s gold value chain and enhance national value retention.
The move was disclosed during a strategic engagement between GoldBod and the leadership of the Ghana National Association of Small-Scale Miners and the Concerned Small-Scale Miners Association of Ghana.
The meeting formed part of GoldBod’s broader initiative to deepen collaboration with key stakeholders in the artisanal and small-scale mining (ASM) sector, while promoting responsible mining practices across the country.
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Chief Executive Officer of GoldBod, Sammy Gyamfi, Esq., highlighted critical challenges affecting the sector, particularly purity losses within the gold value chain. He described discrepancies in gold purity as a major concern with significant financial implications for both the Board and the national economy.
According to him, addressing these losses will require stronger cooperation between GoldBod and small-scale miners to ensure improved transparency, efficiency, and accountability in gold trade activities.
Mr. Gyamfi reaffirmed the Board’s commitment to supporting the sector, noting that the allocation of up to 30 percent of its surplus is in line with its statutory mandate to promote the growth and formalization of small-scale mining.
He further called on the leadership of the miner associations to submit a comprehensive working plan to guide the structured implementation of targeted interventions aimed at improving productivity, sustainability, and regulatory compliance.
Beyond financial assistance, GoldBod is also considering practical support measures, including the provision of mining equipment and technical expertise to help miners enhance their operations and transition toward more responsible practices.
In addition, the CEO revealed that advanced steps are being taken to intensify the fight against illegal mining, particularly activities on water bodies. As part of this effort, GoldBod is in the process of procuring patrol boats to help remove illegal operators from rivers and other affected areas.
The engagement underscores GoldBod’s commitment to formalizing the small-scale mining sector, boosting gold output, reducing operational inefficiencies, and ensuring that Ghana derives maximum value from its mineral resources.