In a landmark transaction, Ibrahim Mahama’s Damang Gold Mine Limited has sold 100 percent of its first gold output to the Ghana Gold Board (GoldBod), marking a significant step in efforts to boost Ghana’s foreign reserves.
The historic sale, amounting to about 110 kilograms of gold, was received earlier today at the GoldBod Assay Lab at the Accra International Airport. The Chief Executive Officer of the Ghana Gold Board, Lawyer Sammy Gyamfi, briefed the media on the development, describing it as a milestone in Ghana’s minerals and mining sector.
Mr. Gyamfi emphasized that Ghanaian leadership in the mining industry is crucial to maximizing national benefits and driving economic transformation. He lamented the low contribution of large-scale mining companies to government’s reserve accumulation efforts and urged others to emulate the example set by Damang Gold Mine.
He noted that the transaction aligns with the objectives of the Ghana Accelerated National Reserve Accumulation Program (GANRAP), launched by government and approved by Parliament, which seeks to strengthen the country’s reserve position through strategic resource management.
The gold delivered will be assayed, valued, and purchased by GoldBod on behalf of the Bank of Ghana, refined, and added to the Central Bank’s holdings. Officials described the move as a boost to Ghana’s economic stability and a demonstration of the mining sector’s potential to contribute meaningfully to national development.
Leave a Reply