GoldBod rakes in a record $4bn from export of 41.5 tonnes of gold since February

Gold exports from Ghana's artisanal and small-scale gold mining (ASM) sector have, for the first time, exceeded those from the large-scale mining industry, raking in over $4 billion between February and May 2025.

This remarkable development was announced by the acting Chief Executive Officer of the Ghana Gold Board (GoldBod) Sammy Gyamfi during his keynote address at the Mining in Motion Summit held at the Kempinski Hotel in Accra.

According to the CEO, GoldBod successfully acquired and exported 41.5 tonnes of gold within the five-month period—all sourced exclusively from ASM operations. In May alone, exports reached a record 11 tonnes, valued at $1.17 billion.

“This milestone demonstrates the true economic potential of small-scale miners when provided with the right framework and support,” the CEO stated. “GoldBod has absorbed over 90% of all ASM gold in the country, significantly enhancing foreign exchange liquidity and contributing to the ongoing appreciation of the Ghanaian cedi.”

He attributed this success to sweeping reforms initiated by the Mahama administration, which led to the creation of GoldBod to bring order to the formerly unregulated gold trade. The institution has since replaced the Precious Minerals Marketing Company (PMMC) and now serves as the sole legal buyer and exporter of ASM gold.

“The era of unchecked gold smuggling is finished. Every gold smuggler will face justice—no one will escape,” he declared to enthusiastic applause.

Looking ahead, the CEO announced that GoldBod is on track to roll out digital traceability systems by the end of the year. This innovation will allow the nation to trace every gram of gold back to its origin, further tightening regulation and boosting transparency in Ghana’s gold supply chain.