Ghana’s small-scale gold export industry has reached an unprecedented milestone, with shipments totalling 66.7 tonnes between January and August 2025, valued at roughly $6 billion, according to the Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi.
Speaking at the inaugural Mining and Minerals Convention at the Kempinski Gold Coast Hotel on September 9, Mr. Gyamfi credited the achievement to strong cooperation between the Gold Board and the Bank of Ghana.
“What this means is that the volume and value of small-scale gold exports from January to August 2025 alone have exceeded the total small-scale gold export outturn for the whole of 2024 (January–December), which stood at 63 tonnes with a value of about $4.6 billion United States Dollars,” he said.
The Gold Board CEO further highlighted that small-scale gold exports continue to outperform the large-scale mining sector.
“It is also instructive to note that small-scale gold exports continue to surpass those from the large-scale mining sector, which stood at 65.1 tonnes with an export value of about $5.6 billion United States dollars, for the period between January and August 2025,” he explained.
As part of efforts to bolster Ghana’s gold reserves, Mr. Gyamfi revealed that the Gold Board has begun purchasing 20% of the output from seven large-scale mining companies for supply to the Bank of Ghana.
“So far, we have locally purchased and supplied to the BoG nearly 100 kilograms of large-scale gold to augment the gold reserves of the country,” he disclosed.
The convention brought together government officials, industry leaders, and international partners to deliberate on sustainable mining, responsible sourcing, and investment opportunities in Ghana’s mineral sector.
At the same event, Mr. Gyamfi announced that local gold refining before export will commence next month, a move aimed at ensuring Ghana maximises value from its mineral wealth.
He reiterated that the January–August 2025 small-scale export figures had already surpassed the entire 2024 total, noting that the sector’s 66.7 tonnes, valued at $6.3 billion, outstripped the large-scale sector’s 65.1 tonnes worth about $5.6 billion in the same period.
Mr. Gyamfi emphasised that the foreign exchange earnings from gold exports this year—particularly from the artisanal and small-scale mining (ASM) sector—have been exceptional, strengthening reserves, improving the balance of payments, and supporting the cedi.
“These early successes have affirmed the strategic role of the Ghana Gold Board in Ghana’s long-term development and prosperity,” he concluded.
Established in 2025 under the Gold Board Act 1140, the Ghana Gold Board (GoldBod) was created to centralise gold trading and regulate the buying, selling, refining, and exporting of gold. Its mandate includes combating gold smuggling, boosting foreign exchange inflows, building reserves for the Bank of Ghana, and enhancing value addition in the gold sector, while ensuring transparency, accountability, and improved revenue generation from Ghana’s gold resources.
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