Ghana Gold Board faces mounting demands for transparency regarding gold export certification from small-scale mining operations. Stakeholders express concern that rapid export growth may inadvertently support illegal mining activities. Small-scale mining operations surpassed large-scale exports for the first time, reaching 51.5 tonnes worth approximately $5 billion during the first half of 2025. This represents a dramatic increase from 26.4 tonnes valued at $1.8 billion during the same 2024 period. Finance Minister Cassiel Ato Forson credited these gains to reforms by the newly established Ghana Gold Board.
Natural Resource Governance Institute Country Manager Denis Gyeyir demands verification protocols for gold purchases backing foreign exchange reserves. He warns that inadequate oversight could enable environmental destruction while strengthening the cedi. Gyeyir emphasizes that Ghana must demonstrate all gold acquisitions come from licensed, responsible sources. Without proper safeguards, the nation risks future accountability questions from international organizations. The gold reserve strategy requires careful scrutiny to prevent legitimizing illegal mining under small-scale operation classifications.
Natural Resource Governance Institute Country Manager Denis Gyeyir demands verification protocols for gold purchases backing foreign exchange reserves. He warns that inadequate oversight could enable environmental destruction while strengthening the cedi. Gyeyir emphasizes that Ghana must demonstrate all gold acquisitions come from licensed, responsible sources. Without proper safeguards, the nation risks future accountability questions from international organizations. The gold reserve strategy requires careful scrutiny to prevent legitimizing illegal mining under small-scale operation classifications.
