The Ghana National Association of Small Scale Miners (GNASSM) says it is in full support of the establishment of the Ghana Gold Board (GOLDBOD); it is an initiative they support.
President of the Association Michael Kojo Peprah disclosed that they were the ones that proposed the GOLDBOD to President John Dramani Mahama during the 2024 campaign period.
He said on Frontline on Rainbow Radio 87.5FM that “the GOLDBOD is a proposal we presented to President John Dramani Mahama while he was campaigning as an opposition leader at AH Hotel on 11 June 2024.”
He stated that when fully operational, the GOLDBOD will help achieve fair and competitive pricing of gold in the sector.
Mr. Peprah assured that the Association will collaborate with the government in establishing the GOLDBOD to ensure that it becomes a game changer to the economy.
“We fully support the GOLDBOD because we proposed its establishment. It is our proposal, not the government’s. That is the history of GOLDBOD, and as small-scale miners, we will support it and ensure its success,” he declared.
The government of Ghana has allocated the cedi equivalent of US$279 million as a revolving fund for the Ghana Gold Board (GOLDBOD) to enable the purchase and export of at least 3 tonnes of gold per week from small-scale miners.
Finance Minister Dr Cassiel Ato Forson made the announcement while presenting the 2025 Budget Statement on Tuesday, March 11, 2025.
Reacting to this. Mr. Peprah said the GOLDBOD will help streamline the gold trading sector with a chain of stakeholders, including gold buyers, jewellers, bullion traders, small-scale miners, licensed gold exporters, among others.
‘’We are optimistic the GOLDBOD will solve existing problems in the sector, including the undue advantage that foreigners have in the sector,’ he told host Kwabena Agyapong.
About the GOLDBOD
The Ghana Gold Board will be mandated to regulate and streamline the sector.
It will act as the sole buyer of gold from the legal small-scale mining sector through licensed aggregators and local traders.
The GoldBod will also have exclusive legal rights as the sole assayer, seller, and exporter of gold purchased from small-scale miners.”
By: Rainbowradioonline.com/Ghana
