The Ghana National Association of Small Scale Miners (GNASSM) has thrown its weight behind the government's initiative to establish the Ghana Gold Board (GoldBod), aimed at formalising gold trading in Ghana.

According to GNASSM, the current gold trading sector is "very disorganised and informal," resulting in significant revenue losses for the state.

The association believes that the establishment of GoldBod will provide the necessary policy framework to transform the gold trading sector and help the country realize the full potential of the small-scale mining industry.

This development is expected to stabilize the national currency by making GoldBod the sole buyer, assayer, seller, and exporter of gold from legal small-scale miners.

In a statement jointly signed by its General Secretary, Godwin Nickleson Amarh, and National Communications Director, Abdul-Razak Alhassan, and released in Accra on Tuesday, March 4, 2025, the group lauded the inclusion of representatives from all stakeholders in the gold trading sector on the governing board of the soon-to-be-established GoldBod.

"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 read in part.

The statement also revealed that engagement sessions conducted by the GoldBod technical committee with small-scale miners and other stakeholders have been instrumental in drafting a bill that guarantees fair market pricing for miners.

Small-scale miners are fully represented on the GoldBod technical committee, alongside other industry players such as relevant ministries, the Minerals Commission, gold service providers, large-scale mining firms, industry experts, jewelers' associations, and banks.

GNASSM has pledged to support the government in establishing GoldBod, which is expected to be launched soon.

The association reiterated its commitment to the initiative, stressing that "so far, the GoldBod technical committee is on the right path" with its efforts to sanitize the gold trading sector.

KA

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