Sammy Gyamfi Outlines Vision for Responsible Mining



The Chief Executive Officer of Ghana Gold Board (GoldBod), Sammy Gyamfi Esq., has outlined bold reforms aimed at transforming artisanal and small-scale mining (ASM) into a globally compliant, transparent, and sustainable pillar of the international gold supply chain. He delivered the remarks at the 2025 Dubai Precious Metals Conference held at the Atlantis Palm Jumeirah Hotel in Dubai on November 24, 2025.

Addressing industry leaders and global stakeholders, Mr. Gyamfi reaffirmed Ghana’s position as Africa’s leading gold producer and the sixth-largest globally. He stressed that ASM has become central to Ghana’s economic recovery, contributing 90 tonnes of gold—representing 53% of national gold exports—and generating over US$9 billion in foreign exchange in 2025 alone. The sector now supports more than one million jobs nationwide.
He noted that these contributions have played a major role in stabilising the economy, improving foreign reserves, strengthening the cedi, reducing inflation to single digits, and achieving a trade surplus of US$2.1 billion.
However, Mr. Gyamfi emphasised that despite its importance, illegal and irresponsible mining practices continue to threaten water bodies, forests, and human life. He underscored that “no volume of gold is worth a human life,” calling for urgent reforms to ensure that ASM becomes a blessing rather than a curse.
GoldBod’s Mandate and Achievements
The GoldBod, established under the Ghana Gold Board Act (Act 1140), has been granted exclusive authority to assay, grade, value, purchase, sell, and export ASM gold. Within seven months of operation, the institution has:
Strengthened oversight of the gold supply chain
Introduced licensing reforms tied to responsible sourcing
Implemented competitive pricing for miners
Deployed aggregation systems to curb leakage
Intensified action against illegal gold sourcing and smuggling
Supported national efforts to combat environmentally destructive mining
Mr. Gyamfi emphasized that responsible sourcing is both a legal requirement and an ethical commitment. Traders are obligated to buy only from licensed mines or face sanctions, including suspension, license revocation, fines, and criminal prosecution.
New Technology: Ghana to Deploy Blockchain Traceability by 2026
One of the boldest announcements from his speech was the introduction of a blockchain-based Track and Trace system by the end of 2026. This system will ensure that every gram of gold exported by GoldBod is traceable to its certified mine of origin, with periodic compliance audits to prevent illegal operations from infiltrating the supply chain.
A Call to Global Partners
Mr. Gyamfi sharply criticized the international tolerance of smuggled gold, describing it as a driver of illicit finance, money laundering, and terrorism. He advocated for a global certification scheme for gold—similar to the Kimberley Process for diamonds—to stop smuggled gold from entering the legitimate market.
He affirmed Ghana’s readiness to partner with the UAE, DMCC, OECD, LBMA, the World Gold Council, and other stakeholders to strengthen global trade integrity.
Investing in ASM and Modernising Practices
GoldBod is also investing in modern assay technologies, transitioning the sector from traditional methods to XRF and Fire Assay standards to eliminate fraud and improve quality control. The institution is collaborating with the Geological Survey Authority to support geological research, reduce environmental degradation, and de-risk ASM operations.
The CEO further outlined the “Mining Support Program” and the “Responsible Co-operative Mining and Skills Development Program (rCOMSDEP),” both aimed at providing technical, financial, and skill-based support to bolster sustainable ASM operations.
A Vision for a Responsible, Inclusive Future
Mr. Gyamfi concluded with a powerful vision of an ASM sector that uplifts communities, preserves the environment, and becomes a reliable pillar of global industry. He called on advanced countries and global bodies to support technical and financial reforms that will make ASM safer, cleaner, and more beneficial for future generations.

Comments

Post a Comment

Popular posts from this blog

Chieftaincy Crisis: Ngleshie Alata Chiefs Reject Imposed Mantse

Image
The Ngleshie Alata Traditional Council has strongly condemned the recent induction of Prince Asharku-Bruce Quaye, also known as Oblempong Wetse Kojo II, as the Ngleshie Alata Mantse. Speaking on behalf of the council, Nii Ofei III, Divisional Chief of Kokrobitey, alleged that the induction was carried out unlawfully by the Greater Accra Regional House of Chiefs without the knowledge or involvement of the traditional council. According to Nii Ofei III, the process of installing a chief follows clear constitutional and customary guidelines, which were blatantly disregarded in this case. He accused the registrar of the Greater Accra Regional House of Chiefs and its president, Oboade Notse King Professor Odaifio Welentsi III, of collaborating to impose Prince Asharku-Bruce Quaye on the traditional council. “This induction was conducted in secrecy. We only became aware of it after a letter circulated about a meeting between the Greater Accra Regional Minister and the Regional House of Chief...
Read more

Electrochem’s Ada Salt Deal in Jeopardy

Image
The 15-year mining lease agreements for Electrochem Ghana Limited, a private salt mining company to mine salt on the Ada Songhor Lagoon appears to be in jeopardy with the withdrawal of consent to the agreement by the allodia owners of the lagoon.  The latest blow to Electrochem which is owned by Daniel McKorley, Chief Executive Officer of the McDan Group of Companies is the withdrawal of consent by Nene Korley IV who is the Divisional Chief and Clan-head of the Tekperbiawe Clan of the Ada Traditional Area.  In a letter written to Mr. McKorley through his lawyers A-F Amissah & Wood Solicitors and Barristers Consultants dated 11th February 2025 and titled, “Letter of Withdrawal of Consent to Electrochem’s Dealing With the Songor Lagoon”, Nene Korley IV cited thuggery, insecurity in Ada, violation of rights of the indigenes and locals among others as the reasons for his withdrawal of consent to the company’s dealings with the Songor lagoon. The letter which was copied NENE AB...
Read more

Engineering with Integrity: The voice of IET President, the call of a nation

Image
  On a bright morning in Accra, as sunlight filtered through the windows of the auditorium, a quiet sense of purpose filled the room. Rows of freshly inducted engineering professionals sat in crisp suits and dresses, eyes attentive, hearts proud. This was not just another ceremony. It was a moment of reckoning — and at its center stood a man determined to make that clear. Engr. Henry Kwadwo Boateng, President of the Institution of Engineering and Technology, Ghana (IET-GH), stepped to the podium with the calm authority of a leader seasoned by experience, yet stirred by urgency. As he welcomed the newest members into the professional fold, it became evident that this induction was more than a rite of passage — it was a call to conscience. With measured conviction, Engr. Boateng congratulated the new members on their achievement but reminded them that the true weight of their responsibility was only beginning. “This is not just a ceremony of formality,” he said. “It is a moment of re...
Read more