Ghana’s artisanal and small-scale mining (ASM) gold exports have reached US$11.6 billion between January 1 and October 20, 2026, surpassing earnings from large-scale gold exports, according to the Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi.
Mr Gyamfi disclosed this at the Mining in Motion Conference on Tuesday, October 20, 2026, where he highlighted the growing contribution of small-scale mining to Ghana’s foreign exchange earnings, reserve accumulation and currency stability.
GoldBod, he said, had aggregated and exported 85.4 tonnes of artisanal and small-scale mining gold during the period, compared with 76 tonnes of gold exports from large-scale mining, valued at US$11.1 billion.
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The figures place ASM gold exports ahead of large-scale mining in both volume and reported export value for the period under review.
Mr Gyamfi said the performance demonstrated the sector’s increasing importance to Ghana’s economy and expressed confidence that GoldBod would exceed its 2025 export figures before the end of the year.
“Ladies and gentlemen, the story is not different this year. In fact, it is better. The GoldBod remains on track to surpass last year’s outturn,” he said.
According to the GoldBod CEO, the small-scale mining sector recorded significant growth in recent years, with ASM gold exports increasing from 63 tonnes in 2024 to approximately 104 tonnes in 2025.
The 2025 performance marked the first time in Ghana’s history that artisanal and small-scale mining gold exports surpassed those from large-scale mining, he said.
Mr Gyamfi added that the sector generated US$10.8 billion in foreign exchange in 2025, helping to strengthen Ghana’s external position and support stability in the foreign exchange market.
He attributed part of the cedi’s 41 per cent appreciation against the US dollar in 2025 to foreign exchange inflows from ASM gold exports.
“FX inflows from the ASM sector continue to anchor FX intermediation, support reserve build-up and currency stability,” he said.
The GoldBod CEO maintained that sustained gold aggregation and exports would continue to support foreign exchange availability and reserve accumulation as the country works to consolidate its economic gains.
GoldBod’s latest figures highlight the expanding role of artisanal and small-scale mining in Ghana’s gold export sector, with the Board seeking to build on the 2025 performance and increase export volumes further in 2026.
The figures cover the period from January 1 to October 20, 2026, and compare ASM and large-scale gold exports over the same period.