Illegal small-scale mining, commonly referred to as galamsey, remains one of Ghana’s most pressing policy challenges. The issue is deeply entrenched in the country’s socio-economic fabric, making it not only an environmental and economic concern but also a highly sensitive political matter. Galamsey plays a significant role in Ghana’s mining industry, accounting for an estimated…

The Goldbod Technical Committee, under the leadership of the Acting Managing Director of the Precious Minerals Marketing Company (PMMC), Sammy Gyamfi Esq., held a crucial stakeholder engagement today to gather insights and recommendations on the legal framework for the soon-to-be-established Ghana Gold Board. The meeting brought together a diverse group of industry stakeholders, reflecting a…

27TH JANUARY, 2025 ADDRESS BY THE MINISTER OF FINANCE AT THE INAUGURATION OF THE TECHNICAL COMMITTEE FOR THE ESTABLISHMENT OF THE GHANA GOLD BOARD (GOLDBOD) Distinguished Members of the Press, Ladies and Gentlemen, Rationale for the Establishment of the Ghana Gold Board Key Responsibilities of the Ghana Gold Board The Role of GoldBod in Addressing…

In the third quarter (Q3), global gold demand (excluding over-the-counter transactions) declined by 7% year-on-year (y-o-y) to 831 tonnes (t). This decline was primarily driven by exchange-traded funds (ETFs), which shifted from substantial inflows in Q3 2020 to modest outflows in 2021. Despite strong performance in other gold demand sectors—such as jewellery, technology, and physical…

For centuries, the gold-rich lands of West Africa have drawn explorers, merchants, and investors from around the world. During colonial times, the region was even named the Gold Coast, a testament to its vast mineral wealth. Today, Ghana remains Africa’s second-largest gold producer, playing a crucial role in the global gold market. More than six…

The Ghanaian government has issued a directive requiring all large-scale mining companies to sell 20% of their refined gold output to the Bank of Ghana, effective January 1, 2023. The announcement was made by Vice-President Mahamudu Bawumia in a Facebook post on Friday, signaling a significant shift in the country’s economic strategy amid ongoing financial…