GoldBod generates $5b from small-scale exports, surpasses large-scale mining – Mahama

President John Mahama has revealed that the Ghana Gold Board (GOLDBOD), since commencing full operations earlier this year, has generated $5 billion in export value from the artisanal and small-scale mining sector alone.

According to him, this outstrips large-scale mining exports for the first time in the country’s history.

“Since its interim formation in January 2025, the Ghana Gold Board has implemented aggressive reforms, especially in the artisanal and small-scale mining (ASM) sector. By May alone, GOLDBOD exported 11 tonnes of gold valued at USD 1.1 billion. Cumulatively, exports from the small-scale sector reached 51.5 tonnes, valued at approximately USD 5 billion.”

He said this at the inauguration of the Gold Board Security Task Force. He added, “This represents a 95% increase from the same period in 2024 and surpasses large-scale mining exports for the first time in
our history.”

He emphasised that the figures reflect the transformative power of supporting and formalising artisanal mining. “These inflows have strengthened our foreign reserves, improved our balance of payments, and helped stabilize the Cedi. More importantly, they reaffirm our belief that artisanal miners, when supported and formalized, can be powerful allies of development.”

The President highlighted that the creation of the Gold Board and its Security Task Force forms part of a broader national economic transformation agenda, aimed at ensuring transparency, value retention, and long-term sustainability in Ghana’s gold industry.

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