The Ghana Gold Board (GoldBod) has commenced a nationwide initiative to profile artisanal and small-scale gold miners, representing a significant shift in the sector’s regulatory landscape. This exercise, initiated approximately two months ago, aims to establish detailed data on gold production and improve traceability across the country. The objective is to determine the proportion of gold purchased by artisanal miners compared to licensed small-scale operators, and to support efforts to formalize the sector and enhance monitoring of gold production levels. GoldBod’s Chief Executive Officer, Sammy Gyamfi, stated that the exercise is being undertaken through the Board’s licensing, gold-buying, and receipting systems, which enable the tracking of gold’s origin and category. The initiative’s rationale centers on the Board’s receipting system, which will allow for the identification of gold production geographical distribution. Mr. Gyamfi explained that the process will also quantify the amount of gold supplied by small-scale miners versus artisanal operators, and further detail the distribution of gold across different regions. He indicated that the current lack of comprehensive data on the artisanal sector, particularly concerning expired licenses and applications awaiting renewal, presents a significant challenge. GoldBod’s position as a key player in tracking gold trading activities is intended to fill this data gap, according to Mr. Gyamfi. The exercise is being conducted through a combination of inspections and a task force across Ghana, with the goal of ensuring compliance with licensing requirements. All gold buyers operating under the new regulatory framework are now required to obtain licenses and undergo due diligence, including Know Your Customer (KYC) and anti-money laundering checks. Mr. Gyamfi emphasized that preliminary indications suggest that the artisanal sector could be significantly larger than the licensed small-scale mining sector, although GoldBod is yet to establish its precise size. He stated, ‘I have the feeling that the artisanal sector is far bigger than the small-scale sector,’ highlighting the Board’s commitment to supporting the sector’s formalization. GoldBod plans to share the findings once the exercise is completed, noting that the data could be instrumental in addressing a longstanding gap in Ghana’s mining sector. The Police have also arrested two suspects over the murder of a 54-year-old man, shooting of his wife at Tuba.
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Source: Adom Online
