The Member of Parliament for Kade Constituency, Alexander Agyare, has warned that the National Democratic Congress (NDC) government’s proposed GOLDBOD policy could inadvertently fuel illegal mining, popularly known as galamsey, rather than bolster Ghana’s economy.

In an interview on Thursday, March 20, 2025, the New Patriotic Party (NPP) MP expressed concern over the government’s plan to invest $279 million in purchasing gold, questioning its feasibility and potential consequences.

He noted that the disparity between existing data from the Precious Minerals Marketing Company (PMMC) on Ghana’s gold production records and the amount of gold projected to be realized from the policy could create room for illegal and irresponsible mining to thrive.

“They are expecting to buy three tons per week. According to the records of the Precious Minerals Marketing Company (PMMC) as of 2023, the gold they were buying amounted to 2.7 tons per month. Now, you want to buy gold, and this is how much you plan to buy: three tons a week.

"That means they are projecting to buy 12 tons in a month. But based on the records available for 2024, it shows we are producing between three to five tons per month. So, if you’re only producing three to five tons in an entire month and you plan to buy 12 tons, then it means the activities of galamsey operators are going to be enhanced. This is why we need to be careful. Otherwise, GOLDBOD is just going to be used as a driver to enhance galamsey activities. It means Ghanaians can forget about the fight against galamsey,” he stated.

The GOLDBOD policy, proposed by the government of President John Dramani Mahama, is an initiative aimed at restructuring Ghana’s gold sector to enhance economic benefits and address longstanding challenges in the mining industry.

The GOLDBOD Bill, laid before Parliament on March 19, 2025, outlines plans for the board to oversee gold purchases, trade, and exports, promote value addition, and provide support to small-scale miners through fair pricing and equipment financing.

However, members of the opposition NPP have raised concerns about the proposed board, questioning its clarity, its potential overlap with existing institutions such as the Precious Minerals Marketing Company (PMMC) and the Minerals Commission, and its impact on private sector actors.



GA/MA

Watch the latest edition of BizTech below:



Click here to follow the GhanaWeb Business WhatsApp channel