The Ghana Gold Board (GoldBod) has intensified its efforts to promote transparency and fairness in the country’s artisanal and small-scale mining (ASM) gold trade through a strategic engagement with licensed gold traders.
The meeting focused on aligning Ghana’s gold trading practices with international standards, ensuring greater value protection for miners, traders, and the national economy.
Key Measures Announced
- LBMA pricing formula: Adoption of the London Bullion Market Association (LBMA) pricing formula and trading window to guarantee fair and transparent gold pricing.
- Transaction accountability: Mandating that all gold transactions be recorded and booked within the approved LBMA pricing window to strengthen accountability and boost market confidence.
GoldBod reaffirmed its commitment to building a responsible ASM gold sector that protects Ghanaian miners, promotes ethical trading, and positions Ghana’s gold industry for stronger participation in global markets.
This initiative is part of broader reforms aimed at ensuring Ghana’s gold trade not only benefits local communities but also meets the expectations of international buyers and investors.
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