Government has intensified engagement with large-scale mining companies as part of efforts to strengthen Ghana’s gold reserves and stabilise the cedi under the Ghana Gold Reserve Accumulation Programme (GANRAP).
The high-level meeting, co-chaired by the Minister for Finance, Dr. Cassiel Ato Forson, and the Minister for Lands and Natural Resources, Hon. Emmanuel Armah-Kofi Buah, brought together key industry stakeholders to discuss practical steps toward increasing gold retention within the country and enhancing macroeconomic stability.
Among participants was the Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, Esq., who has been at the forefront of efforts to expand the state’s gold purchasing programme and formalise the gold trading regime.
The engagement comes at a time when GoldBod is recording significant success in its gold purchasing operations, particularly within the small-scale mining sector, and is increasingly positioning itself as a central player in Ghana’s gold value chain.
Recent developments in the large-scale mining space have further reinforced this momentum. In a landmark transaction, Damang Mines Ghana Limited sold 100 percent of its first gold output to GoldBod, a move widely described as a turning point in Ghana’s gold sector.
During the event with Damang Mines, Mr. Gyamfi applauded Chairman of Damang Mines Ghana Limited, Dr. Ibrahim Mahama; describing the transaction as historic and urged other large-scale mining companies to follow suit by increasing the volume of gold sold to the state.
“Large-scale mines have historically sold only a fraction of their output to Ghana under existing arrangements. We are encouraging more mining companies to partner with GoldBod so that a greater share of Ghana’s gold can be retained in-country to support our economy,” he stated.
The GoldBod CEO emphasized that expanding gold purchases from large-scale miners would significantly boost Ghana’s foreign reserves, enhance exchange rate stability, and ensure that the country derives maximum value from its mineral resources.
The ongoing government engagement with mining firms is therefore expected to deepen collaboration between the public and private sectors, while aligning industry practices with national economic priorities.
Officials at the meeting described the discussions as constructive, with a shared commitment among stakeholders to support the objectives of GANRAP and strengthen Ghana’s position in the global gold market.
As GoldBod continues to consolidate its role in the gold purchasing regime, such engagements signal a growing shift toward a more coordinated, transparent, and nationally beneficial approach to gold resource management in Ghana.
