Sammy Gyamfi is the CEO of Goldbod
The Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, has announced that GoldBod has purchased and exported gold from the Artisanal Small-Scale Mining (ASM) sector to the tune of GH¢40 billion, with an export value of approximately $4 billion.
According to him, this is the first time gold exports from the ASM sector have exceeded those from the large-scale sector.
He stated that this occurred from February to May 2025, following the transformation of the Precious Minerals Marketing Company (PMMC) into GoldBod.
Speaking at the Mining in Motion Summit in Accra on Tuesday, June 2, 2025, Sammy Gyamfi said that regulatory measures instituted by GoldBod have contributed to the fight against gold smuggling, enabling the recovery of some gold for the sector.
“From February 2025 to May 2025, PMMC, now GoldBod, on its own, has purchased and exported gold for the Bank of Ghana from the Artisanal Small-Scale Mining sector to the tune of GH¢40 billion, with an export value of approximately $4 billion. Indeed, the total gross weight of ASM gold exported either by or through PMMC, now GoldBod, from January to May 2025, stands at a whopping 41.5 tonnes,” he stated.
To further strengthen regulatory oversight of the sector’s activities, Gyamfi disclosed that GoldBod has begun licensing players in the gold trading sector to promote sourcing and traceability.
“GoldBod is committed to tapping into 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. Our license categories range from aggregation licenses to buying licenses, refining licenses, smelting licenses, transportation licenses, export partnership licenses, among others.
“Before the end of this year, GoldBod will roll out a digital traceability technology for its entire supply chain. This traceability system will enhance market access and the value of the country’s ASM gold. In the medium to long term, it will ensure that every gram of gold purchased by GoldBod is traceable throughout its various custody points, all the way to the mine where it was produced,” he added.
SP/AE
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