The Ghana Gold Board (GoldBod) has introduced a fundamentally different and more effective trade model for 2025 under the Artisanal and Small-Scale Mining (ASM) component of the Gold-for-Reserves (G4R) programme, distinguishing its operations sharply from the role previously played by the defunct Precious Minerals Marketing Company (PMMC).
According to GoldBod, the current model leverages the Board’s exclusive rights over the ASM gold sector alongside its centralized market regulation and enforcement powers.
This institutional authority has enabled GoldBod to implement licensing reforms, deploy effective aggregation systems, and maintain robust anti-smuggling controls.
The result has been a historic mobilisation of ASM gold, with over 103 tonnes channelled into official export pathways in 2025, the highest volume in Ghana’s history.
In addition to its ASM interventions, GoldBod has expanded its role in the large-scale mining sector by purchasing 20 percent of the gold output from nine major mining companies in the country on behalf of the Bank of Ghana.
This gold contributes directly to the nation’s official reserves, further strengthening Ghana’s foreign exchange position.
By contrast, the PMMC lacked these powers and did not play a comparable role under the ASM G4R programme in previous years.
PMMC operated solely as one of the Bank of Ghana’s aggregators and had no exclusive rights, regulatory authority, or enforcement mandate.
Its capacity to influence ASM gold flows or contribute strategically to national reserves was therefore limited.
GoldBod’s CEO, Sammy Gyamfi, Esq., has emphasised that this upgrade reflects a deliberate shift from profit-driven aggregation to a strategic model prioritising volume capture, reserve accumulation, and macroeconomic stability.
“The difference between GoldBod and the PMMC is not simply institutional branding, it is the scale, authority, and effectiveness with which GoldBod manages Ghana’s gold sector for national benefit,” he noted.
With its new trade model, GoldBod is positioning itself as a transformative force in Ghana’s gold industry, ensuring traceability, formalisation, and responsible management of both artisanal and large-scale gold production, an approach that analysts say is essential to maximising the sector’s contribution to the national economy.
