Small-Scale Miners Beat Big Mining Companies — GoldBod Makes $11.6 Billion From 85.4 Tonnes Of Gold

Ghana’s small-scale miners have shocked everyone — they have made more money than the big mining companies this year.

The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has announced that from January 1 to October 20, 2026, GoldBod has exported 85.4 tonnes of small-scale gold worth a massive $11.6 billion.

This figure is bigger than what the large-scale mining companies exported over the same period — 76 tonnes worth $11.1 billion. 

In simple terms, the small men with pickaxes and shovels have beaten the big men with big machines.

Speaking at the Mining in Motion Conference in Accra, Sammy Gyamfi said GoldBod is on track to surpass last year’s performance and is proving that when small-scale mining is well organised and regulated, it can bring huge money to Ghana.

He explained that GoldBod aggregates gold from artisanal and small-scale miners, ensures it is properly accounted for, and exports it through official channels, bringing in much-needed foreign exchange to support the cedi and build Ghana’s reserves.

According to him, this success shows why government created GoldBod — to stop gold smuggling, to get full value for Ghana’s gold, and to ensure that the wealth from the ground benefits Ghanaians.

Sammy Gyamfi also revealed that GoldBod is working to end the export of raw minerals by 2030, as Ghana plans to refine its gold locally and keep more value at home.

For many Ghanaians, this $11.6 billion news is proof that small-scale mining, when done right, is not a curse — it can be the backbone of Ghana’s economy.

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