The Ghana National Association of Small-scale Miners (GNASSM) has expressed its support for the establishment of the Ghana Gold Board (GoldBod), aimed at formalizing gold trading in Ghana.
According to GNASSM, the current gold trading sector is “very disorganized and informal,” resulting in significant revenue and foreign exchange losses for the government.
However, with the establishment of GoldBod, the association believes that the necessary policy framework will be put in place to realize the full potential of the small-scale mining sector.
GNASSM has commended the government’s efforts in engaging stakeholders and ensuring transparency in the establishment process.
The association’s members are fully represented on the Technical Committee, which includes other industry players, such as Relevant Ministries, Minerals Commission, and Large Scale Mining firms.
The Technical Committee’s engagement sessions with small-scale miners and other stakeholders have been instrumental in drafting a Bill that guarantees fair market pricing for miners.
GNASSM has pledged to support the government in establishing the GoldBod, which is expected to be inclusive, beneficial to stakeholders, and conform to international standards.
While inaugurating the technical committee to establish GoldBod,
Finance Minister Dr. Cassiel Ato Baah Forson said it aims to regulate the gold industry, stabilize the cedi, and maximize revenue from gold exports.
The establishment of the GoldBod is a key initiative of President John Dramani Mahama, aimed at unlocking the true value of Ghana’s gold resources.
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