Large-scale mining companies in Ghana will, from July 1, cede 30 percent of their gold output to the Ghana Gold Board (GoldBod), acting on behalf of the government, the Ghana Chamber of Mines has confirmed.
An agreement to that effect was reached on Thursday between the Chamber of Mines and the GoldBod.
“Under this transformative framework, each large-scale mining firm shall cede 30 percent of its gold yield to GoldBod in raw, unrefined form at a discount of 0.55 percent,” according to Ahmed Dasana Nantogmah, chief operating officer of the Ghana Chamber of Mines.
The GoldBod said all raw gold acquired under the agreement will be refined locally to ensure value retention before being shipped to a London Bullion Market Association-accredited refinery for melting and stamping, after which it will be delivered to the Bank of Ghana as part of the country’s gold reserves. Gold purchase and exports by the GoldBod have become a major backbone of Ghana’s exchange rate stability since 2025, helping the Bank of Ghana accumulate its external reserves.