The Ghana National Association of Small-Scale Miners has presented a comprehensive report to the Ghana Gold Board following a nationwide engagement on the GoldBod pricing mechanism and mining sector reforms.
Key among the proposal is the introduction of a two percent discount for licensed buyers and a new licensing regime.
This, according to the association is a measure intended to discourage gold hoarding, which has been identified as a strategy used to create artificial means of scarcity and distort pricing within the local gold market.
The report, titled “Report of Nationwide Engagement on GoldBod Pricing Mechanism and Mining Sector Reforms”, captures feedback from small-scale miners, regulators, security agencies, and traditional authorities across mining districts in the country.
It assesses the impact of recent policy interventions and outlines proposals aimed at strengthening transparency, compliance, and value retention in Ghana’s gold sector.
According to the association, the engagement revealed strong stakeholder participation and a growing commitment to responsible mining practices.
The report notes increasing government conditional support for licensed operations, active involvement of traditional authorities in environmental protection, and demonstrated willingness among miners to formalize their activities and operate within approved regulatory frameworks.
The nationwide sensitization programme, led by the Ghana National Association of Small-Scale Miners, was designed to bridge the information gap between institutional reforms and on-the-ground mining practices.
It focused on translating policy changes into practical understanding for miners, clarifying regulatory expectations, addressing misconceptions about formal gold markets, and building confidence in GoldBod’s pricing and purchasing mechanisms.
The engagements also facilitated dialogue among miners, regulators, security agencies, and traditional leaders, with the aim of building consensus around sector priorities and collaborative solutions.
Reacting to the presentation, the Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, Esq. expressed satisfaction with the depth and outcomes of the report.
He commended the association for its extensive nationwide consultations and reaffirmed GoldBod’s commitment to working closely with small-scale miners and other stakeholders.
Mr. Gyamfi indicated that the Board would study the findings carefully and collaborate with the association to implement key recommendations.
He noted that the proposed measures align with GoldBod’s broader mandate to streamline gold buying, improve compliance, reduce distortions in the market, and ultimately increase returns to the state while supporting the livelihoods of responsible small-scale miners.
He further emphasized that sustained engagement with miners remains critical to the success of Ghana’s gold sector reforms, particularly efforts aimed at formalization, traceability, and value retention within the local economy.
The report is expected to inform ongoing policy discussions as GoldBod continues to roll out reforms to strengthen Ghana’s position in the global gold market while ensuring that benefits are equitably shared across the value chain.
