The Goldbod Technical Committee led by the Ag. Managing Director of the PMMC, Sammy Gyamfi, on Thursday, February 27, 2025, met with small-scale miners, gold dealers and jewellers in Kumasi, the Ashanti regional capital.
The meeting discussed amongst other things, the rationale for the yet to be established GoldBod which according to the government is meant to restructure and streamline the gold trading industry for the optimization of national benefits across the gold value chain.
The draft Bill for the establishment of the Goldbod has gone through extensive stakeholder consultations and has so far received the approval of the Ministry of Finance, Ministry of Lands and Natural Resources and the Office of the Attorney-General and Minister of Justice.
The only approvals outstanding are that of Cabinet and Parliament, which the Ministry of Finance and Technical Committee hope to secure in the next couple of days.
The GoldBod Bill, if passed into law, will takeover the PMMC as a going concern, albeit with enhanced objects, powers and functions, and shall operate with the primary objective of generating forex for the country and supporting the gold reserve accumulation programme of the Bank of Ghana (BoG).
The GoldBod will be the sole authority with the exclusive right to buy, sell and export all the gold from the small-scale mining industry, with rights to buy and export a portion or all of the gold produced by large scale mining firms.
The GoldBod shall also pursue value addition policies, promote responsible sourcing and traceability, aggressively combat gold smuggling and provide support for small-scale miners in the form of geological investigations, concession viability and equipment financing.
The meeting was massively attended by the stakeholders in the mining industry, where education was provided on the Board with all concerns of the attendees addressed by the technical committee.
Earlier, a similar meeting had taken place at Akyem Tafo in the Eastern region.
Find below some scenes at the gathering at the Miklin Hotel in Kumasi:
