Asantehene lauds Goldbod for commitment to ensuring Ghana reaps maximum value from mineral resources

The Asantehene, Otumfuo Osei Tutu II, has said that Ghana’s longstanding challenge has not been the lack of natural resources, but rather the inability to fully capitalize on them in the competitive global market.

To that end, he has lauded the Chief Executive Officer of the Ghana Gold Board GoldBod, Sammy Gyamfi, for his decisive leadership and commitment to ensuring Ghana reaps maximum value from its gold and mineral resources.

Speaking at the official opening of the Mining in Motion Summit in Accra on Monday, 2 June, the Asantehene emphasized that

“Probably the most costly effect of illicit mining to me is the distraction from the real challenge we face, which is how we maximize the benefits of our noble heritage. We have to be true to ourselves and admit that we have not done a good job of representing and protecting ourselves in the competitive global market,” Otumfuo stated.

For his part, President Mahama reaffirmed Goldbod’s commitment to ensuring that mining is done in a sustainable manner.

Speaking at the Mining in Motion conference at Kempeskin in Accra, President Mahama revealed that Goldbod will soon roll out a track and trace system as a measure to ensure sources of the gold are done in a sustainable manner.

Ghana Gold Board aims to acquire London Bullion Market Association (LBMA) certification.

LBMA is an independent authority guaranteeing the world’s highest standards regarding precious metals of gold and silver, as demonstrated by the companies that are able to meet the strictest quality standards.

To become LBMA-certified, gold and silver refiners must meet several criteria, including financial soundness, a proven analytical lab, and a commitment to responsible sourcing.

Additionally, they must have established production capacity, demonstrate market experience, and undergo regular audits.

President Mahama hints, these objects further strengthen the board’s desire to further sanitise the gold trading industry in Ghana.

“This step strengthens the Board’s vision of sanitising Ghana’s gold trade and ensuring it contributes meaningfully to national development,” President Mahama added.

CEO of Goldbod Sammy Gyamfi, who will be speaking tomorrow, June 3, 2025, had asserted in an interview that the government will track excavators to ensure they are used for legal and responsible mining.