GoldBod to award gold traceability contract next week – Sammy Gyamfi

GoldBod Chief Executive Officer, Sammy Gyamfi, disclosed this during a sideline interview with journalist Bernard Avle, where he discussed the Board’s efforts to strengthen responsible gold sourcing and address environmental concerns associated with artisanal and small-scale mining (ASM).

According to Mr. Gyamfi, the Central Tender Review Board Committee had considered the evaluated tenders, bringing the procurement process close to completion.

The proposed system will use blockchain technology to trace gold from its mine of origin through the various stages of custody, aggregation and processing to its eventual purchase and export.

Mr. Gyamfi explained that the technology would help GoldBod identify the origin of gold purchased through licensed buyers, addressing the challenge of distinguishing responsibly mined gold from gold potentially sourced from water bodies and forest reserves.

Under the proposed arrangement, miners and other participants in the supply chain will be required to bag and tag gold at relevant custody points, allowing its movement to be tracked.

The CEO said the system could also improve Ghanaian small-scale gold producers’ access to international markets, including Dubai, India and markets served by the London Bullion Market Association (LBMA), potentially increasing the value and foreign exchange earnings from Ghana’s gold exports.

GoldBod intends to begin onboarding licensed miners and companies onto the platform by the end of 2026.