The Ghana Gold Board has announced plans to begin refining gold locally before export, starting next month.
The initiative, according to the organisation, is designed to ensure the country derives maximum value from its mineral resources.
Speaking at the 2025 Mining and Minerals Convention on September 9, Chief Executive Officer Sammy Gyamfi revealed that the move will be executed in partnership with the Bank of Ghana.
Mr. Gyamfi noted that between January and August 2025 alone, small-scale gold exports exceeded the total output recorded for the whole of 2024. “From January to August 2025, I have exceeded the total small-scale gold export outage for the whole of the year 2024, which stood at 63 tonnes valued at about 4.6 billion U.S. dollars,” he stated.
He further disclosed that small-scale gold exports, estimated at 66.7 tonnes and valued at $6.3 billion so far this year, continue to outperform the large-scale mining sector, which produced 65.1 tonnes valued at approximately $5.6 billion within the same period.
In line with efforts to strengthen Ghana’s gold reserves, Mr. Gyamfi announced that the Gold Board has begun purchasing 20 percent of the output from seven large-scale mining companies for supply to the Bank of Ghana. “So far, we have locally purchased and supplied nearly 100 kilogrammes of large-scale gold to augment the country’s reserves,” he added.
According to him, the foreign exchange inflows generated from gold exports in 2025, particularly from the artisanal and small-scale mining (ASM) sector, have been unprecedented, significantly boosting reserves, improving the balance of payments, and supporting the Ghanaian cedi.
“These early successes have affirmed the strategic role of the Ghana Gold Board in Ghana’s long-term development and prosperity,” he concluded.
The Ghana Gold Board (GoldBod) was established in 2025 under The Gold Board Act 1140 to centralize gold trading and regulate all buying, selling, refining and exporting of Gold in Ghana. Its main purpose is to combat gold smuggling, improve foreign exchange inflows, build reserves for the Bank of Ghana and improve value addition to the gold sector.
GoldBod ensures transparency, accountability and better revenue generation from Ghana’s gold resources.
