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GoldBod Generates $5b from Small-Scale Exports, Surpasses Large-Scale Mining – Mahama
President John Dramani Mahama has announced that Ghana’s artisanal and small-scale mining (ASM) sector has generated an unprecedented $5 billion in gold export value in 2025, surpassing exports from the large-scale mining sector for the first time in the country’s history.
Speaking at the inauguration of the Gold Board Security Task Force, President Mahama hailed the milestone as a testament to the transformative potential of formalizing and supporting artisanal miners through policy and institutional reforms.
“Since its interim formation in January 2025, the Ghana Gold Board has implemented aggressive reforms, especially in the artisanal and small-scale mining sector,” the president said. “By May alone, GOLDBOD exported 11 tonnes of gold valued at USD 1.1 billion. Cumulatively, exports from the small-scale sector reached 51.5 tonnes, valued at approximately USD 5 billion.”
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This marks a 95% increase in export value compared to the same period in 2024, and for the first time in Ghana’s mining history, small-scale operations have outpaced large-scale firms in export earnings.
President Mahama emphasized that the record-breaking performance of the ASM sector has significantly strengthened Ghana’s foreign reserves, improved its balance of payments, and stabilized the local currency, the cedi.
“More importantly, these inflows reaffirm our belief that artisanal miners, when supported and formalized, can be powerful allies of development,” he stated.
The president attributed the success to the strategic interventions by the Ghana Gold Board (GOLDBOD), which became fully operational earlier this year. These reforms have included tighter regulation, improved traceability, access to fair markets, and enhanced engagement with miners across the country.
The newly inaugurated Gold Board Security Task Force is part of a broader effort to safeguard the integrity and gains of the gold sector. President Mahama noted that the task force will work closely with state security agencies to curb smuggling, enforce compliance, and ensure safe mining practices across Ghana.
The president stressed that the establishment of the Ghana Gold Board and its security wing forms part of a national economic transformation agenda focused on:
- Promoting transparency and accountability
- Retaining greater value from natural resources
- Ensuring sustainability and environmental protection
“Our vision is clear—to build a gold industry that benefits not just a few, but all Ghanaians, especially the communities where the gold is mined,” Mahama concluded.
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