Lands and Mines Watch Ghana (LMWG) has rejected claims by the Minority Caucus in Parliament that the licensing of Bawa Rock Limited under the Ghana Gold Board (GoldBod) scheme creates a monopoly. The civil society group described the allegations as misleading, politically charged, and lacking industry context.
In a statement issued on Wednesday, LMWG cautioned that while parliamentary oversight is vital to democratic governance, the Minority’s recent press briefing had “generated more heat than light” and risked undermining confidence in ongoing reforms in gold trading and mining.
“The public deserves clarity, not conjecture,” the group stated, warning that unsubstantiated political narratives could weaken reforms aimed at strengthening indigenous participation in the extractive sector.
LMWG stressed that Bawa Rock Limited is not a sudden beneficiary of policy change but a long-standing player in Ghana’s mining and precious metals trading industry. The company, it said, has consistently invested in systems, infrastructure, and personnel aligned with international best practices.
“Any serious national discussion about Bawa Rock’s role under GoldBod must begin with facts, history, and capacity—not political soundbites,” the statement noted.
Monopoly Allegation “Factually Inaccurate”
Responding to claims that Bawa Rock’s licence undermines competition, LMWG described the monopoly narrative as a distortion of the GoldBod framework.
The group explained that the GoldBod system recognises multiple licensed operator categories—including Aggregators, Self-Financing Aggregators, Tier 1 Buyers, and Tier 2 Buyers—all operating under uniform pricing rules.
“Within the GoldBod structure, no trader competes on price,” LMWG clarified. “The only monopoly within the system is GoldBod itself as a state agency. Licensees operating under its terms cannot be classified as monopolies.”
LMWG highlighted Bawa Rock’s professional management systems, collaborations with licensed buyers, and engagement with metallurgists and logistics specialists as evidence of its credibility. The company, it added, maintains documented procedures, compliance systems, and structured pricing mechanisms—standards often absent in the artisanal gold trading sector.
“Within industry circles, Bawa Rock is widely regarded as one of the most serious indigenous players Ghana has produced in recent years,” the statement said.
Investment in Assaying and Foundry Infrastructure
LMWG further noted that Bawa Rock has invested heavily in modern assaying and foundry equipment to ensure accurate gold content determination and fair pricing for miners.
“These investments protect miners from underpricing and enhance Ghana’s credibility in international dore markets,” the group said, describing the infrastructure as a sign of long-term commitment rather than opportunism.
The organisation emphasized that Bawa Rock’s licence is grounded in the GoldBod Act, 2025 (Act 1140), aligning with national objectives such as improving traceability, reducing smuggling, strengthening formal gold purchases, and supporting Ghana’s reserve accumulation strategy.
Call for Restraint
LMWG criticised the Minority’s continued questioning of ownership structures without evidence, describing it as “political theatre masquerading as oversight.”
“Transparency is best served through institutional engagement and documentation, not press conferences designed to score political points,” the group stated.
It warned that such conduct could discourage indigenous investment and send negative signals to professionals willing to commit capital to Ghana’s gold sector.
“Politicians must be allowed to do their politics, but industry players must also be allowed to do their work,” LMWG cautioned, urging restraint and warning against attempts to “target businesses for collapse based on selfish political interests.”
LMWG concluded that Bawa Rock Limited represents indigenous capacity, professionalism, and forward-looking leadership in Ghana’s gold trading industry.
“Attacking such an entity without evidence does not strengthen accountability; it weakens national reform efforts,” the group said, calling on the Minority to elevate the discourse and support reforms that promote transparency, traceability, and long-term value for Ghanaians.
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