CEO of GoldBod, Sammy Gyamfi, has said that before the end of this year, GoldBod will roll out a digital traceability technology for its entire supply chain.
This traceability system, he said, would enhance market access and value of the country’s Artisanal Small-scale Mining (ASM) gold.
In the medium to long term, he said, it will ensure that every gram of gold purchased by the GoldBod is traceable throughout its various custody points, all the way to the mine it was produced. And that mine must be a licensed mine engaged in legal, responsible and sustainable mining in accordance with the mining laws of Ghana and international best practices.
Sammy Gyamfi was speaking during the official opening of the Mining in Motion Summit in Accra on Monday, 2 June.
He said “effective September 2025, the GoldBod shall, in collaboration with the Ministry of Lands and Natural Resources begin the training of artisanal small scale miners in environmentally-friendly mining and mordern recovery optimization techniques.
“To further increase Ghana’s ASM gold output, the GoldBod and its investor partners will invest in the cooperative mining program of the Ministry of Lands and Natural Resources.”
He further stated that they would also partner with hard rock small-scale, medium-scale and large scale mining firms to maximize the sustainable production of gold in the country and national revenue for development.
Investors who will be partnering the GoldBod in this program, will receive payments for their investment in discounts on gold over a 24-36 months period, he said.
“Let me also state, that the GoldBod is committed to spending a significant portion of our trading surplus on land reclamation and other sustainable initiatives such as the Blue Water and Tree for Life programs launched by government.
“We will invest in geological investigations to make available accurate geological data for sustainable ASM, medium-scale and large scale mining to bring to an end the phenomenon of lottery mining.
“Under our corporate social responsibility policy, a significant chunk of our trade surplus will be invested into the provision of mordern education and health facilities, scholarships for brilliant but needy students, potable water systems and other social-economic projects to alleviate the plight of mining communities, most of whom are victims of the ravages of illegal mining. The days of illegal gold trading and uncontrolled gold smuggling have come to an end. The GodlBod will ensure that Ghana’s gold is traded and exported legally and the forex proceeds thereof, fully repatriated to support our economy and improve the livelihoods of our people. We shall not rest until every gold smuggler is put behind bars.”
Sammy Gyamfi further revealed that in the coming weeks, the GoldBod shall, in conjunction with the National Security Secretariat, launch a standing anti-gold smuggling taskforce, to further strengthen the fight against the illicit menace.
“All persons who fall foul of the law will be dealt with no matter whose ox is gored. No one will be spared. We at the Ghana Gold Board understand, that Value addition is the surest way of maximizing national benefits from the country’s rich mineral deposits. In this regard, the GoldBod will soon move Ghana away from the export of dore’ to bullion in the short to medium term.
“We are currently working with local refineries with clear medium-term paths to LMBA accreditation, to ensure that this dream of moving away from the export of dore’ to bullion becomes a reality. Let me also say, that the GodlBod is opened to symbiotic partnerships to actualize the vision of President Mahama to establish a ‘Gold Village’ in Ghana to serve as a hub of gold jewelry and ornaments in Africa.
“In line with our mandate as the National Assayer, we have commenced work for the establishment of an international standard (ISO certified and LBMA compliant) assay laboratory by 2026. A land for this project has been secured.
This international standard assay lab will ensure that all gold being exported from Ghana are subjected to fire assay to ensure accurate purity determination and valuation.”
