The Ghana Gold Board’s tireless efforts to transform the artisanal and small-scale mining sector have paid off, with the Chamber of Licensed Gold Buyers praising its remarkable progress in formalization and increased gold production.

According to the Chamber, GoldBod’s efforts have yielded significant gains, including a notable surge in gold production, export earnings, and foreign exchange inflows.

Through its reforms, the chamber also noted, GoldBod has successfully increased transparency, accountability, and value retention in Ghana’s gold trade, marking a new era for the industry.

By overseeing licensed Artisanal Small-scale Mining producers, GoldBod has successfully reduced smuggling and promoted better governance in the sector.
Ghana’s ASM gold production reached 1.9 million ounces in 2024, up 70% from the previous year, with the sector now contributing 39% to the country’s total gold production.

Formalisation of the ASM sector is not just a regulatory improvement. It is a game-changer for value retention, economic development and sustainable mining practices,” CEO of the Chamber of Licensed Gold Buyers, Kwaku Amoah noted.

“The figures speak for themselves. Formalised small-scale mining is now a major contributor to Ghana’s gold production and export revenue.”

The group stated that by boosting foreign exchange inflows and gold reserves, GoldBod’s work is supporting Ghana’s financial resilience and stabilizing the cedi.

The Chamber urged GoldBod to prioritize ongoing support for ASM miners, including training and access to finance and technology. Additionally, they called for swift implementation of digital traceability systems and compliant assay labs, as well as further investment in downstream value addition initiatives like local refining and jewelry production.

“The success achieved so far should serve as a springboard for deeper reforms and sustainable sector growth,” the statement added.

“CLGB remains committed to working closely with GoldBod and other stakeholders to ensure Ghana’s gold industry delivers maximum benefit to its people.”