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Ghana Gold Board Signs $1 Billion Deal to Develop 300 Responsible Mines

Published on September 9, 2025
By Agnes Oteng

By: Akua Oteng Amponsah

The Ghana Gold Board (GoldBod) has signed a Memorandum of Understanding (MoU) with Goldstream Global DMCC worth up to $1 billion to develop 300 responsible mines across Ghana.

According to GoldBod’s CEO, Sammy Gyamfi, this partnership aims to transform the country’s gold sector, create jobs, and promote sustainable mining practices.

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“On 22nd August 2025, the Gold Board signed a Memorandum of Understanding with Goldstream Global DMCC. This MOU would eventually transform into a commercial agreement by November 2025 for the investment of up to $1 billion USD in establishing over 300 responsible mines in blocked out mineralised areas and in partnership with concession owners,” he announced at the Mining and Minerals Convention in Accra.

Under this program, the GoldBod will collaborate with the Ministry of Lands and Natural Resources and its allied agencies, such as the Minerals Commission of Ghana, to develop mineralized areas and partner with concession owners and communities to maximize Ghana’s gold output through sustainable mining.

Accoeding to Sammy Gyamfi, this crucial Mining Support Programme will increase national gold output and create thousands of jobs in the mining ecosystem for the teeming unemployed youth of the country.

The Minerals Commission has already released 10 blocked-out mineralized areas to the Gold Board for this program and has pledged to release more in the coming weeks.

Sammy Gyamfi emphasized that the initiative aims not only to boost production but also to formalize artisanal and small-scale mining while providing financing for environmentally friendly equipment.

“Our mission is to sustainably increase Ghana’s gold output and develop the country’s gold supply chain responsibly from the country’s heartland to global vaults, empowering communities while delivering sustainable and transformational returns,” he stressed.

Sammy Gyamfi also highlighted the need for bold financing solutions to maximize production and optimize recovery in the mining sector.

“Current financing models for mining in Ghana are too conservative. We need African capital structures to provide bold but practical financing solutions for the minerals and mining sector to maximise production and optimise recovery, particularly in this time of record high international gold prices,” he explained.

The partnership with Goldstream Global will promote technological innovation and support the government’s efforts to reposition the minerals and mining industry as a driver of employment and national development.

“This is about creating sustainable livelihoods for our youth and maximising Ghana’s gold wealth for the benefit of all citizens,” Gyamfi concluded.

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