Ghana’s small-scale mining sector recorded an unprecedented performance in the first half of 2025, exporting 51.5 tonnes of gold valued at approximately US$5 billion, nearly double the 26.4 tonnes exported during the same period in 2024.
Finance Minister Dr. Cassiel Ato Forson disclosed this during the presentation of the government’s Mid-Year Fiscal Policy Review in Parliament, attributing the surge to reforms led by the newly established Ghana Gold Board (GOLDBOD).
These reforms, he said, have intensified efforts to formalise operations in the artisanal and small-scale gold mining industry.
“For the first time in our history, gold exports from the small-scale mining sector have exceeded those from the large-scale mining sector,” Dr. Forson said.
The reported 100% increase in export volume and 180% rise in value reflect a structural shift in Ghana’s mining landscape, with informal gold producers now contributing significantly to official earnings.
The Finance Minister said these contributions have helped strengthen Ghana’s foreign reserves, improved the balance of payments, and bolstered the cedi.
“This tells a story of a country denied the full benefits of its natural resources due to years of unchecked smuggling and illegal trade,” Dr. Forson remarked. “But now, with focused reforms, we are seeing real results.”
Established to bring structure to the small-scale mining space, GOLDBOD has reformed the licensing regime and introduced new gold aggregation systems that enable the state to capture and account for more of the gold produced by artisanal miners. The agency’s efforts have also curtailed illegal gold exports and increased transparency in the trade.
Dr. Forson warned that the government would take a hard stance against gold smuggling and illicit trade, calling such practices “nation-wrecking” and detrimental to Ghana’s development.
Beyond the mining sector, Dr. Forson said the strong export performance, driven by gold and cocoa, it helped push Ghana’s trade surplus to US$5.57 billion by June 2025, up sharply from US$1.37 billion in June 2024. This represents a 306.6% year-on-year increase.
The country’s current account also improved significantly, recording a surplus of US$3.44 billion by mid-year, compared to just US$283.11 million in the same period of 2024.
Net capital and financial inflows stood at a provisional US$937.58 million, signalling growing investor confidence in Ghana’s economic prospects.
“Clearly, the interventions we are putting in place are yielding positive results,” the Finance Minister said, reaffirming the government’s commitment to deepen structural reforms and expand the formalisation of key sectors.
