The Concerned Small Scale Miners Association has lauded the efforts of GoldBod in dealing with gold smuggling.
Following its establishment, the board has made efforts to safeguard the country’s revenue and promote transparency in the gold sector.
Already, the board has conducted a series of activities to crack down on the illegal trade of gold.
President of the Association, Michael Kwadwo Peprah, in a statement, lauded the board for the intervention so far.
“The Association applauds Mr. Gyamfi’s commitment to tackling gold smuggling,” he said.
The association’s statement emphasized, “His promise to introduce a comprehensive and credible system for tracing gold purchases from source to sale is a major step toward ending illicit trade, protecting state revenue, and restoring integrity to the sector.”
Boosting Foreign Exchange and Economic Stability
According to the Ghana Gold Board (GoldBod) and the Precious Minerals Marketing Company (PMMC), their operations generated over $8 billion in foreign exchange from Ghana’s small-scale gold export between January and October 15, 2025.
The revenue stream contributed to boosting Ghana’s foreign reserves and supporting the country’s economic recovery efforts.
The state agency, with the power to license persons engaged in trading the commodity, exported 81,719.23 kilograms of gold valued at US$8.06 billion from the small-scale mining sector.
“Goldbod’s operations under Mr. Gyamfi have contributed meaningfully to Ghana’s foreign exchange earnings through formal gold purchases and reduced leakages,” he stated.
Mr. Peprah added, “These inflows have supported the economy by easing inflationary pressures, contributing to the appreciation of the cedi, improving the balance of payments, strengthening investor confidence, and supporting overall macroeconomic stability.”
According to the miners, GOLDBOD’s operations through traceability are protecting the environment.
The statement added, “Effective traceability will also deliver important environmental benefits.
By formalizing mining activities and enforcing standards, Goldbod’s systems will help reduce illegal mining, protect water bodies, improve land reclamation practices, and promote responsible mining that safeguards communities and natural resources.”
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Source: www.myjoyonline.com
