Ghana has earned $2.7 billion from gold exports between January and April 2025, thanks to the newly introduced Goldbod initiative and enhanced operations by the Precious Minerals Marketing Company (PMMC).
Speaking at the Global Mining Summit the President described Goldbod as a key pillar of his administration’s broader effort to reform the gold sector and ensure maximum national benefit from Ghana’s mineral wealth.
“The Goldbod, a key plank in my administration’s strategy to reform the gold mining sector and ensure maximum benefit for Ghanaians from our gold resources, has taken off,” President Mahama said.
“In its short existence, it has sanitised the gold sector, ensuring maximum returns from our gold exports.”
He noted that the impressive revenue generated within just four months signals a promising trend that could see gold export earnings rise significantly by the end of the year.
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The Goldbod initiative, launched to promote transparency, traceability, and fair market practices in gold trading, is also part of ongoing efforts to curb illegal mining, improve institutional oversight, and increase state revenues.
President Mahama emphasised that, beyond boosting earnings, the initiative strengthens regulation and accountability throughout the gold mining value chain, positioning Ghana to reap more from its most valuable natural resource.
However, the Ghana Gold Board (GoldBod), established in April 2025 under the Ghana Gold Board Act (Act 1140), serves as the sole authority overseeing the trading, licensing, assaying, refining, and export of gold and other precious minerals in Ghana.
This initiative aims to formalize the gold sector, particularly focusing on small-scale mining, to curb illegal activities and enhance revenue generation.
GoldBod’s responsibilities include licensing gold traders, aggregators, and refiners; providing assay services to determine mineral purity; and facilitating the export of gold.
By centralizing these functions, GoldBod seeks to improve transparency, ensure compliance with international standards, and maximize the economic benefits of Ghana’s mineral resources.
