As Ghana’s newly created Ghana Gold Production and Marketing Company Limited (GoldBod) prepares to enter the gold market, licensed small-scale miners are pushing for equitable treatment and strategic support from the state-owned entity.
In a high-stakes meeting on Tuesday, April 15, 2025, leaders of the Association of Small Scale Miners engaged GoldBod’s Chief Executive Officer, Sammy Gyamfi, in discussions focused on fair gold pricing, resource support, and long-term collaboration. The meeting, which marked GoldBod’s first major stakeholder dialogue, is seen as a signal of the administration’s intent to centre small-scale miners in its efforts to formalise the sector.
Top on the agenda was a call for transparent pricing mechanisms that protect the interests of small-scale miners—many of whom continue to be vulnerable to exploitation by unlicensed gold buyers offering inflated, off-the-books rates. As global gold prices surge, miners say they must be offered competitive rates if GoldBod hopes to compete with illicit market actors.
“GoldBod can’t succeed unless we’re given a fair deal,” one miner remarked after the session. “If the government wants to curb smuggling and boost reserves, it must start by valuing our work.”
Beyond pricing concerns, the miners submitted a detailed request for equipment support to help modernise operations, enhance safety, and meet environmental standards. Many also highlighted the need for sustained engagement, saying trust between government agencies and small-scale miners has been frayed in the past.
“We need a partner, not a regulator in disguise,” said one of the association leaders. “GoldBod must prove it’s here for the long haul.”
In response, GoldBod CEO Sammy Gyamfi affirmed the company’s broader mission: to formalise the gold value chain, support local miners, and help Ghana build a credible, well-regulated gold economy.
“We’re not just here to purchase gold—we’re here to build a gold industry that is inclusive, responsible, and Ghanaian-led,” Gyamfi said.
He emphasised that GoldBod’s mandate goes beyond transactions, positioning the company as a strategic tool to fight illegal mining, promote sustainable practices, and grow national gold reserves.
GoldBod was recently launched as part of government efforts to tighten control over gold trading and bolster Ghana’s mineral wealth. As the designated state off-taker, it will serve as the central buyer of gold from licensed small-scale miners, offering regulated prices aimed at reducing illegal trade and enhancing accountability.
The company’s creation has been widely welcomed in policy circles as a potential game-changer—especially in a sector that contributes significantly to Ghana’s gold output but often operates on the margins of legality and profitability.
Tuesday’s meeting sets the stage for deeper collaboration between GoldBod and small-scale mining groups. If the partnership is sustained and the promised reforms delivered, it could redefine Ghana’s approach to resource management—and empower thousands of local miners in the process.
