The Ghana Gold Board (GoldBod) has firmly denied allegations that it purchases gold from illegal miners, stating that all of its gold is sourced strictly through licensed aggregators.
In a set of frequently asked questions released on Monday, January 5, the board explained that it does not engage directly with miners.
Instead, it operates through approved intermediaries in line with its regulatory mandate.
“The GoldBod, as a public corporation, does not buy gold directly from miners. Rather, the GoldBod buys gold from its licensed aggregators,” the statement clarified.
GoldBod said its operations are guided by Section 3(1)(f) of Act 1140, which mandates the board to promote the formalisation of small-scale mining through responsible sourcing, sustainable supply chains, gold traceability and compliance with international standards.
It added that Section 3(1)(g) further requires the promotion of environmentally responsible mining practices.
The board stressed that all gold-buying licences it issues explicitly prohibit licensees from sourcing gold from illegal mining operations.
According to GoldBod, these licence conditions are publicly accessible on its official website to ensure transparency and accountability.
To strengthen enforcement, the eight-month-old institution disclosed that it is developing a blockchain-based track-and-trace system designed to verify the origin of every gram of gold purchased through its licensed buyers.
The system, once operational, is expected to significantly improve oversight and curb illegal sourcing.
GoldBod also pointed to broader government actions against illegal mining, led by the National Anti-Illegal Mining Operations Secretariat (NAIMOS).
These efforts include the eviction of illegal miners from nine forest reserves, the revocation of Legislative Instrument 2462 which permitted mining in forest reserves, restrictions on excavator imports, and ongoing arrests and prosecutions.
Noting that gold trading in Ghana has historically lacked traceability, the board described its establishment as a turning point.
“This is the first time a government institution has been set up with a clear mandate and timelines to achieve full value-chain traceability in the gold sector,” it stated.
GoldBod dismissed criticisms from political opponents as attempts to undermine its progress and reiterated its commitment to eliminating illegal mining. It confirmed that the blockchain track-and-trace system will be rolled out in 2026, following a competitive procurement process.
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Source: www.myjoyonline.com
