Editor’s Note
Ghana is taking a major step to formalize its $6.3 billion small-scale gold mining sector. As announced by the Ghana Gold Board, a nationwide digital traceability system will track every gram of gold from mine to export by the end of 2025. This initiative aims to bring transparency, curb illicit trade, and ensure the nation benefits fully from its precious mineral resources.
The Ghana Gold Board will implement a nationwide traceability system by December 2025 to track every gram of gold from mine to export, CEO Sammy Gyamfi announced as the country seeks to formalize its booming small-scale mining sector worth $6.3 billion this year.
The comprehensive tracking system will ensure all gold purchased by GoldBod originates from verified, environmentally compliant operations, aligning with OECD guidelines and international responsible sourcing standards.
Ghana’s state-backed gold management agency will commence domestic gold refining before export starting October 2025, as part of sweeping reforms to add value to mineral resources and strengthen sector oversight.
Gyamfi revealed the initiative during the Mining and Minerals Convention in Accra.
Ghana’s small-scale gold exports reached 66.7 tonnes valued at approximately $6.3 billion from January to August 2025, surpassing the entire 2024 output of 63 tonnes worth $4.6 billion. Small-scale operations continue outperforming large-scale mining, which recorded 65.1 tonnes valued at $5.6 billion during the same period.
Beyond the traceability system, GoldBod announced intensified efforts against illegal mining through substantial enforcement support. The board will donate five Toyota Hilux pickups and GHS 5 million to the National Anti-Illegal Mining Regulation Secretariat to strengthen galamsey operations across the country.
GoldBod has allocated significant resources for ecological restoration, targeting reclamation of thousands of hectares of devastated forest reserves. A “Researcher Responsibility Policy” will be implemented starting October 2025 to ensure ongoing environmental accountability from mining operations.
The board emphasized its commitment to community development initiatives, including providing portable water systems, modern education and health facilities, and scholarships for students in mining communities, linking responsible gold production with broader socio-economic development.
The comprehensive gold traceability system aims to formalize the small-scale mining sector and curb illegal gold trading by 2026, representing a fundamental shift in Ghana’s approach to mineral resource management.
according to industry experts who emphasize the complexity of implementing OECD-compliant systems.
The traceability system addresses longstanding concerns about Ghana’s gold sector, where illegal mining operations have caused extensive environmental damage while depriving the state of significant revenues through unregulated exports.
All former export licenses issued by the PMMC and Ministry of Lands became invalid as of May 1, 2025, unless reauthorized by GoldBod, consolidating control over Ghana’s gold trade under the state agency.
The initiative represents Ghana’s most ambitious effort to bring order to its gold sector, where informal mining operations have operated with minimal oversight while contributing substantially to national export earnings and foreign exchange reserves.
Industry stakeholders suggest successful implementation of the traceability system could serve as a model for other African countries seeking to formalize artisanal mining sectors while maintaining environmental and social responsibility standards.
The combination of traceability requirements, domestic refining capabilities, and enhanced enforcement measures signals Ghana’s determination to maximize benefits from its gold resources while addressing environmental and governance challenges that have plagued the sector.
GoldBod’s expanded mandate under Act 1140 grants the agency exclusive authority over gold buying, selling, weighing, grading, and exporting, creating a centralized framework for managing Ghana’s most valuable mineral resource.
The success of the traceability system will depend on effective coordination between government agencies, mining communities, and international partners committed to responsible sourcing standards in global gold supply chains.