Gold Board CEO Announces Record-Breaking $6 Billion Gold Export Achievement
Ghana’s small-scale gold exports have reached unprecedented heights, generating approximately $6 billion in just eight months of 2025, according to revelations made at the inaugural Mining and Minerals Convention held at the Kempinski Gold Coast Hotel today.
Mr. Sammy Gyamfi, Chief Executive Officer of the Ghana Gold Board (GoldBod), delivered the keynote address at the maiden edition of the convention, announcing that small-scale gold exports from January to August 2025 have already surpassed the entire 2024 output by both volume and value.
Record-Breaking Performance:
The Ghana Gold Board facilitated the export of 66.7 tonnes of small-scale gold worth $6 billion during the eight-month period, compared to 63 tonnes valued at $4.6 billion for the entire year of 2024. Remarkably, small-scale mining exports have also outperformed large-scale mining operations, which recorded 65.1 tonnes worth $5.6 billion during the same period.
“These early successes underline the strategic role of the Ghana Gold Board to Ghana’s long-term development and prosperity,” Gyamfi stated, emphasizing that the institution is still in its preparatory stages with significant untapped potential remaining.
Transformative Reforms Drive Success:
The CEO attributed the remarkable performance to comprehensive reforms implemented by the GoldBod under President John Dramani Mahama’s administration. Key initiatives include:
– Aggressive licensing reforms promoting responsible sourcing
– Elimination of the 1.5% withholding tax on unprocessed small-scale gold
– Introduction of transparent and competitive pricing systems
– Deployment of robust aggregation systems across all mining regions
– Establishment of the GoldBod Taskforce with whistleblower rewards to combat illegal trading
Strengthening National Reserves:
In a strategic move to support Ghana’s gold reserve accumulation, the GoldBod has initiated local purchases of 20% of gold output from seven large-scale mining companies. The Board has already supplied nearly 100 kilograms of large-scale gold to the Bank of Ghana, significantly strengthening the country’s reserves and providing critical support to the Ghana Cedi.
Environmental and Social Commitments:
Gyamfi announced several major sustainability initiatives set to launch in the coming months:
**Anti-Illegal Mining Support**: Next week, the GoldBod will donate five Toyota Hilux pickups and GHS 5 million to the National Anti-Illegal Mining Operations Secretariat (NAIMOS).
Environmental Restoration: Starting November 2025, the Board will fund the reclamation of 1,000 hectares of devastated forest reserves as part of the government’s ecological restoration policy.
Community Development: A comprehensive corporate social responsibility program launching in October 2025 will provide mining communities with potable water systems, modern education and health facilities, and scholarships for deserving students.
Traceability and International Standards:
The CEO announced that a nationwide traceability system will be implemented before year-end, ensuring every gram of gold purchased by the GoldBod can be traced back to its verified, licensed, and environmentally compliant mine of origin. This initiative aligns with OECD guidelines and international best practices for responsible sourcing.
Vision for African Leadership:
“We at the GoldBod are proving something powerful, which is that African-born corporations can lead globally, not merely follow,” Gyamfi declared, positioning Ghana’s approach as a model for the continent’s mineral wealth optimization.
The CEO emphasized that with Africa holding 30% of the world’s known mineral reserves and minerals constituting 70% of the continent’s exports, Ghana is “resetting and rewriting the narrative” of how African nations can leverage their natural resources for economic transformation.
Mining Support Program Launch:
The GoldBod has launched a Mining Support Program aimed at attracting direct investments into mining, particularly for procuring environmentally friendly equipment to optimize production and recovery while maximizing national benefits.
The maiden Mining and Minerals Convention, organized by Baba Sadiq Abdulai and his team, brought together key stakeholders in Ghana’s mining sector to discuss the growth and transformation of the country’s fast-evolving minerals and mining industry.
With international gold prices at record highs, Gyamfi stressed that “the time to maximize gold production and optimize national benefit is now,” calling for bold African capital structures to provide innovative financing solutions for the sector’s continued growth.
The Mining and Minerals Convention continues with various panel discussions and networking sessions aimed at fostering collaboration within Ghana’s mining ecosystem.
