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Ghana’s small-scale gold exports have reached a historic high of 66.7 tons, valued at approximately $6.3 billion, between January and August 2025. This achievement surpasses the total small-scale gold exports for the entire year of 2024, which stood at 63 tons worth $4.6 billion.
According to Sammy Gyamfi, CEO of the Ghana Gold Board, the record-breaking exports are a result of reforms introduced in collaboration with the Bank of Ghana. The Ghana Gold Board has strengthened oversight of the gold supply chain, introducing a transparent pricing system to benefit small-scale miners. Additionally, the 1.5% withholding tax on unprocessed gold has been scrapped to encourage legitimate gold trading. A taskforce has also been established to combat illegal trading and smuggling.
The Ghana Gold Board has also initiated local purchases of gold from large-scale mining companies, supplying part of it to the Bank of Ghana to boost the country’s reserves and support foreign exchange stability. Nearly 100 kilograms of large-scale gold have been supplied to the Bank of Ghana.
The record-breaking exports reflect Ghana’s commitment to optimizing the benefits of its natural resources for national development, under the leadership of President John Dramani Mahama. The Ghana Gold Board’s initiatives aim to maximize national gains from gold while safeguarding the environment and supporting local communities. “These early successes underscore the strategic role of the Ghana Gold Board in strengthening Ghana’s economy and ensuring that our mineral wealth benefits the people,” Mr. Gyamfi emphasized.
Story by: epos
