CEO of the Gold Bod, Sammy Gyamfi has said that from February 2025 to May, 2025, the Precious Minerals Marketing Company (PMMC), now GoldBod, on its own, has purchased and exported for the Bank of Ghana, gold from the Artisanal Small-scale Mining (ASM) sector to the tune of 40 billion Ghana cedis, with an export value of approximately $4 billion United States dollars.
Thus, for the first time, he said, gold exports from the Artisanal Small-scale mining sector of Ghana have exceeded gold exports from the large-scale sector.
Indeed, the total gross weight of ASM gold exported either by or through the PMMC now GoldBod, from January to May 2025, stands at a whopping 41.5 tonnes.
This, coupled with the prudent monetary and fiscal policies of the government has significantly increased forex liquidity in the market and accelerated foreign reserves accumulation leading to the sustained appreciation of the national currency and a positive impact in the living conditions for our people.
Speaking during the official opening of the Mining in Motion Summit in Accra on Monday, 2 June, Sammy Gyamfi stated that GoldBod has tightened regulatory controls, launched a ruthless fight against gold smuggling and deployed effective aggregation systems across the country that helped to mop up over 90% of all ASM gold.
These measures have accounted for the unprecedented gold purchases and exports we have recorded this year, he said.
“In the just ended month of May 2025 alone, gold purchases and exports by the GoldBod from the artisanal small-scale sector hit a record high of 11 tonnes with an export value of a staggering $1.172 billion United States dollars,” Mr Gyamfi said.
He further explained that the data shows the great prospects of the Artisanal Small-scale mining sector to our economy and the general well-being of our dear country if properly harnessed. As the President stated yesterday at this summit, ‘artisanal miners are not enemies of the state- when properly trained and supported, they can be allies of development’.
“The GoldBod is committed to tapping and maximizing the full potential of the Artisanal Small-scale mining sector by supporting sustainable artisanal mining and promoting responsible sourcing by all gold traders in the ASM sector.
“To strengthen regulatory oversight and promote responsible sourcing and traceability, the GoldBod has begun the licensing of all players in the Gold trading sector of the country,” he said.
He added, “Our license categories range from aggregation licenses to buying licenses to refining license, smelting license, transportation license, export partnership license, among others.
“Licensees of the GoldBod are subject to a strict code of responsible sourcing and continuous due diligence by the GoldBod, working in conjunction with the Bank of Ghana and the Financial Intelligence Center in line with our Anti-Money Laundering and Counter Terrorism Financing policies.
“As you may be aware, the GoldBod Act proscribes foreigners from engaging in direct gold purchases from the local market. However, foreigners are allowed and encouraged to apply directly to the GoldBod to purchase or off-take gold from the board. Foreigners may also partner with Ghanaian applicants of a self-financing aggregation license from the GoldBod. Again, foreigners may apply for a license from the GoldBod to establish refineries, jewelry factories and other forms of value addition enterprises.”
