Chief Executive of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has disclosed that gold exports from the artisanal small-scale mining (ASM) sector reached an unprecedented $4 billion between February and May 2025.
This, he said, marks a historic first for the nation, as ASM gold exports have now surpassed those from the large-scale mining sector.
Sammy Gyamfi made this major revelation at the Mining in Motion Summit held at the Kempinski Hotel in Accra on Tuesday, June 3, 2025.
He stated, “In May alone, we exported 11 tonnes of ASM gold, valued at $1.172 billion. That is evidence of what is possible when proper regulation and structure are applied.”
According to the CEO, the total gross weight of ASM gold exported by or through the PMMC—now GoldBod—from January to May 2025 was a staggering 41.5 tonnes, underscoring the substantial increase in formal gold trade.
He attributed this remarkable success to the visionary leadership of President John Dramani Mahama, under whose direct instruction the Ghana Gold Board was established.
“Thanks to President Mahama, a bleeding sector has been stabilized. The Ghana GoldBod has now become the central state agency for buying, selling, assaying, refining, and exporting gold,” the CEO stated.
He explained that GoldBod was created to address a historically fragmented and poorly regulated gold trading sector that had long deprived Ghana of its rightful share of mineral wealth.
To achieve these results, GoldBod has reportedly ‘tightened regulatory controls,’ aggressively clamped down on gold smuggling, and implemented an efficient aggregation system that now captures over 90% of ASM gold production.
The CEO announced the formation of a standing anti-gold smuggling task force in a further move to combat illicit activities, This initiative, in partnership with the National Security Secretariat, aims to ensure that ‘all persons who fall foul of the law will be dealt with.
Sammy Gyamfi outlined an ambitious strategy to revolutionize Ghana’s gold sector by placing artisanal small-scale mining (ASM) at the center of national economic transformation.
He stressed that the days of illegal gold trading and uncontrolled gold smuggling have come to an end emphasizing, “We shall not rest until every gold smuggler is put behind bars.”
The Board also plans to launch a digital traceability system before the end of 2025 to ensure every gram of gold exported can be traced back to a licensed, responsible mine to boost market access and raise the value of Ghana’s ASM gold.
Meanwhile, GoldBod has begun issuing a range of licenses—from aggregation to refining and transportation—to enforce strict due diligence across the gold trade, in collaboration with the Bank of Ghana and the Financial Intelligence Centre.
The CEO extended a warm invitation to international partners, particularly those interested in value addition, refining, and sustainable sourcing.
“Foreigners are welcome to apply directly to GoldBod to purchase or off-take gold or to invest in refineries, jewelry factories, and other value addition projects.”
In alignment with its corporate social responsibility goals, GoldBod pledged to reinvest trade surpluses into land reclamation, potable water systems, education and health infrastructure, and scholarships for deprived mining communities.
He disclosed that GoldBod is working with local refineries toward London Bullion Market Association (LBMA) certification and plans to shift Ghana’s exports from ore to bullion.
“We are moving away from raw exports to refined value—a new gold narrative for Ghana,” he said.
Sammy Gyamfi called out to international investors that Ghana and the GoldBod are ready and prepared, and together can drive high dividends in the industry where the environment is preserved, lives are bettered, and communities are uplifted.