GoldBod Under Fire — Akwasi Konadu Accuses Gold Board of Putting Gold Supplies Ahead of Mining Law

The Deputy Ranking Member of Parliament’s Lands and Natural Resources Committee, Akwasi Konadu, has accused the Ghana Gold Board (GoldBod) of prioritising the supply of gold over the strict enforcement of mining regulations, raising concerns about the balance between gold procurement and responsible mining practices.

Konadu’s criticism has brought renewed attention to the role of GoldBod in Ghana’s gold sector, particularly the need to ensure that efforts to increase gold supplies do not undermine the enforcement of laws governing mining activities.

According to the lawmaker, the pursuit of gold supplies must not overshadow the responsibility of relevant institutions to ensure compliance with mining regulations and promote responsible exploitation of the country’s mineral resources.

His concerns highlight a broader debate about how Ghana can maximise the economic benefits of its gold industry while addressing illegal mining, protecting the environment and ensuring that mineral resources are managed in the national interest.

GoldBod was established to play a central role in Ghana’s gold trading framework, including the purchase and aggregation of gold from designated sources. Its activities are important to the country’s efforts to improve oversight of gold transactions and strengthen the contribution of the mineral sector to the economy.

However, the effectiveness of the gold trading system also depends on the ability of relevant authorities to ensure that gold entering the supply chain originates from legitimate and properly regulated mining operations.

Konadu’s accusation suggests that greater attention must be paid to the relationship between gold procurement and the enforcement of existing mining laws.

The concern is particularly significant in the context of Ghana’s continuing struggle with illegal small-scale mining, commonly known as galamsey. The practice has been associated with environmental damage, including the pollution of water bodies, the destruction of forest reserves and the degradation of agricultural land.

For communities affected by illegal mining, regulatory enforcement remains a critical part of efforts to protect livelihoods, preserve natural resources and safeguard public health.

The lawmaker’s position underscores the need for a coordinated approach involving GoldBod, the Minerals Commission, the Environmental Protection Authority and other relevant institutions.

Such coordination could help strengthen traceability within the gold supply chain, improve compliance with licensing requirements and prevent gold obtained through unlawful mining activities from entering legitimate markets.

It also raises questions about the effectiveness of existing monitoring systems and whether the responsibilities of institutions operating within the gold sector are being adequately aligned.

While gold procurement can contribute to economic growth and foreign exchange earnings, these benefits must be pursued within a framework that respects the law and protects the environment.

Konadu’s criticism therefore places pressure on GoldBod and the relevant authorities to demonstrate that efforts to secure gold supplies are accompanied by strong oversight and responsible sourcing practices.

Ultimately, Ghana’s long-term interests depend not only on the volume of gold traded but also on how responsibly the mineral is produced, sourced and regulated.

The debate highlights a fundamental challenge for the country: ensuring that the economic value of gold does not come at the expense of environmental protection, lawful mining and accountability.

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