The Ghana National Association of Small-Scale Miners (GNASSM) has expressed its satisfaction with the ongoing stakeholder engagement and transparency surrounding the establishment of the Ghana Gold Board (GoldBod) by the government.

The association has praised the inclusive process, which has ensured that small-scale miners are well represented in the formation of the GoldBod.

Technical Committee

A technical committee, formed by the Finance Minister to develop legislative proposals for the GoldBod, includes representatives from a range of industry players. These stakeholders include small-scale miners, relevant ministries, the Minerals Commission, gold service providers, large-scale mining firms, industry experts, jewelers, and banks, among others. Their collective input is ensuring that the GoldBod’s activities are both transparent and focused on formalising gold trading in Ghana.

Currently, the gold trading sector in Ghana is largely disorganised and informal, leading to substantial revenue and foreign exchange losses for the government. GNASSM believes that the establishment of the GoldBod through an Act of Parliament will provide the necessary policy framework to address these issues, unlocking the full potential of the small-scale mining sector for national development and economic stability.

Excitement

The association is particularly excited about the upcoming GoldBod’s governing board, which will include representatives from all relevant stakeholders. This structure, according to GNASSM, will ensure the board’s operations are inclusive, beneficial to all parties, and aligned with international standards.

In addition, the technical committee’s engagement with small-scale miners and other stakeholders across the country has been instrumental in drafting a Bill that ensures fair market pricing for miners. GNASSM remains committed to supporting the government’s efforts in establishing the Ghana Gold Board, recognising the positive impact it will have on the sector and the nation as a whole.

As the process progresses, GNASSM assures its members and the public that updates will continue to be provided. The association remains confident that the GoldBod is moving in the right direction, with stakeholders working together to create a formal and sustainable gold trading sector in Ghana.