Ghana GoldBod’s latest compliance sweep has delivered significant results, with the agency reporting the retrieval of GH¢3,036,990.00 in cash during its nationwide assault on illegal gold trading activities. The findings are contained in its 2025 third-quarter operational summary.
The enforcement teams also stumbled upon a stash of foreign currencies—among them US dollars, CFA francs and Moroccan dirhams—indicating the extent of off-book transactions within unlicensed gold markets. A range of items linked to underground gold networks were confiscated as well, including gold doré, gold dust, mercury, weapons, mobile devices and falsified paperwork.
Ongoing investigations point to possible external involvement, with individuals from the United States, Morocco and Burkina Faso reportedly connected to unlawful mining or gold-smuggling operations. This has amplified concerns about expanding international participation in Ghana’s illegal gold trade.
At the centre of the probe is a review of Tier 2 licence holders, as GoldBod examines whether some authorised entities may have used their permits to assist unregulated players.
The agency’s legal wing now has 20 active cases, spanning issues such as operating without permits and facilitating illicit transactions. These cases include 10 still being examined, six suspects granted bail, one individual on court bail, one case heading for trial, one matter still with the police, and one suspect deported.
From July to September 2025, GoldBod recorded progress on several fronts, including gold aggregation, exports, reserve acquisition and broader regulatory reforms.
Within the Artisanal and Small-Scale Mining (ASM) stream, the agency consolidated 26,153.98 kg of gold—valued at US$2.76 billion—as part of its efforts to bring structure to the sector. Enhancing national reserves was also a priority: GoldBod secured 119.78 kg of gold from large-scale producers for the Bank of Ghana, worth US$11.82 million, to boost the country’s gold-backed reserve strategy.
Export figures remained strong. ASM operators shipped 25,780.60 kg of gold at a value of US$2.71 billion, while large-scale miners exported 24,911.21 kg, generating US$2.43 billion.
Regulatory work also intensified, with 577 licences processed under the new tiered structure designed to strengthen oversight while simplifying access for legitimate businesses. These approvals included 432 Tier 2, 123 Tier 1, and 22 authorisations for self-financed aggregators.
As part of its tightening measures, the Board suspended two licences and cancelled one, signalling its commitment to removing non-compliant operators and promoting responsible gold trading across the country.
