The Ghana National Association of Small-Scale Miners (GNASSM) has expressed satisfaction with the government’s level of stakeholder engagement and transparency in the establishment of the Ghana Gold Board (GoldBod).
In a press statement, GNASSM highlighted its active participation in the Technical Committee set up by the Minister of Finance to develop legislative proposals for the formation of GoldBod.
The committee includes representatives from various industry players within the gold supply chain, such as relevant ministries, the Minerals Commission, gold service providers, large-scale mining firms, industry experts, the Jewellers Association, and financial institutions.
According to GNASSM, the involvement of these stakeholders is crucial in ensuring that the Gold Board operates transparently while focusing on formalising gold trading in Ghana. The board is also expected to provide support to agencies working closely with small-scale miners.
Currently, Ghana’s gold trading sector is largely informal and disorganised, leading to significant revenue and foreign exchange losses for the government.
GNASSM believes that the establishment of GoldBod through an Act of Parliament will create the necessary policy framework to streamline the sector, ensuring that Ghana benefits fully from its small-scale mining industry.
“We are excited by the fact that the governing board of the soon-to-be-established GoldBod will include representatives of all relevant stakeholders. This will ensure that GoldBod’s operations are inclusive, beneficial to stakeholders, and in conformity with international standards,” the statement noted.
GNASSM also praised the engagement sessions held across the country with small-scale miners and other industry stakeholders. These interactions, facilitated by the GoldBod Technical Committee, have been instrumental in draughting a bill that ensures fair market pricing for miners while addressing the challenges of the current informal system.
The association reaffirmed its commitment to supporting the government in the successful establishment of the Ghana Gold Board for the benefit of the nation.
“So far, the GoldBod Technical Committee is on the right path. We shall keep updating our members and the general public as the process unfolds,” GNASSM assured.
As the government finalises plans to establish GoldBod, industry players and observers will be keenly watching the development of the policy framework to ensure that it delivers lasting benefits to Ghana’s mining sector.
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