President John Dramani Mahama has disclosed that Ghana’s gold exports from the small-scale sector between January and May 2025, for the first time in history, surpassed large-scale mining exports.
This, he says, is due to the establishment of the Ghana Gold Board (GoldBod), which has aided in the consolidation and export of gold.
Speaking at the launch of the GoldBod Task Force at the Jubilee House on Tuesday, July 8, 2025, the President noted that the achievement, particularly in the artisanal and small-scale mining (ASM) sector, is due to the “aggressive reforms” the government has put in place.
“By May, 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. This represents a 95% increase from the same period in 2024 and surpasses large-scale mining exports for the first time in our history,” the President stated.
According to the President, the income has contributed to the country’s economy having better indices for stabilisation.
“These inflows have strengthened our foreign reserves, improved our balance of payments, and helped stabilize the Cedi,” he stated, stressing on how artisanal miners could contribute to the economy if given the needed the support.
“More importantly, they reaffirm our belief that artisanal miners, when supported and formalized, can be powerful allies of development.”
The Ghana Gold Board Act, 2025 (Act 1140), was passed by Parliament on March 28, 2025, and subsequently signed into law by President Mahama on April 2, 2025. This new legislation mandates GoldBod as the sole entity responsible for the buying, selling, and export of gold from Ghana’s artisanal and small-scale mining (ASM) sector.
It is designed to oversee, regulate, and participate directly in the gold value chain—from small-scale mining to assaying, trading, and export. The Board now holds exclusive rights to purchase and export all gold produced in Ghana, except that from large-scale mining firms, where it still holds preemptive rights.
Like cocoa, gold is now consolidated, traded, and exported through a centralised, transparent system, which President Mahama has said has proven itself since the law was passed to cater for the sector. “The results speak for themselves,” he stated.
