|
Starting May 1, gold must be bought with licenses from the new
Ghana Gold Board, also known as GoldBod, according to a
statement from the new body. Licenses previously issued by the
Precious Minerals Marketing Co., which used to market minerals
produced in the country, will no longer be valid.
The statement said beginning next month no entity can purchase
or deal in gold in the country apart from GoldBod, which was
created to oversee gold trading and maximize revenue from its
export.
Under the law, GoldBod becomes the sole buyer, seller, assayer
and exporter of all gold produced by licensed small-scale miners
in Ghana, and those who do so without a license from the board
will be charged criminally.
Traditionally, local and foreign companies with export licenses
had been able to buy and export gold from small-scale Ghanaian
miners.
On March 29, Parliament passed the Ghana Gold Board bill, which
was signed into law by President John Dramani Mahama on April 2.
Prince Kwame Minkah, spokesman for GoldBod, told The Associated
Press that "the trading activities of GoldBod is expected to
culminate into building the needed reserves to enhance our forex
and by extension deal with gold smuggling.”
The chronic challenge of illegal gold mining — known locally as
“galamsey” — was a major issue during Ghana’s presidential
election campaign last year and a source of concern for voters,
triggering protests and criticism against the outgoing
government.
Ghana is the world’s sixth largest gold producer, but the
commodity has been increasingly mined illegally as people become
more desperate to find jobs in a crumbling economy. The mining
has polluted rivers and other parts of the environment, despite
government actions to clamp down on the practice.
Speaking before Parliament passed the bill, Minister of Finance
Dr. Cassiel Ato Forson, said: “The GoldBod will ensure that
Ghana harnesses the entire gold value chain — from extraction to
refining, value addition, and marketing — both locally and
internationally.”
All contents © copyright 2025 Associated Press. All rights reserved
|
|
