The Ghana Gold Board has made big strides in its work during the third quarter of 2025, especially in collecting and exporting gold, building reserves, and keeping miners in line with the rules.

It's latest report shows that small-scale miners handed over 26,153.98 kilograms of gold, valued at roughly US$2.76 billion.

According to the Chief Executive Officer of the Board, Sammy Gyamfi, "The Ghana Gold Board continued to demonstrate strong institutional performance and sectoral leadership during the third quarter of its operational year (July–September 2025). The period was marked by steady progress in regulatory enforcement, gold aggregation and export, licensing and compliance, and inter-agency collaboration aimed at formalizing Ghana’s gold value chain." .

"The GoldBod’s operational and financial performance reflects its growing institutional maturity and alignment with the objectives of the Ghana Gold Board Act, 2025 (Act 1140), which mandates it to regulate, promote, and ensure transparency in the purchase, assay, and export of gold and other precious minerals," Sammy Gyamfi stated.

This growth, according to the institution, is a demonstration that more small-scale miners are working officially and under better supervision.

GoldBod also bought 119.78 kilograms of gold from large mining companies to add to the Bank of Ghana’s reserves, worth about US$11.82 million. This is all part of the government’s plan to strengthen Ghana’s gold reserves and support the economy.

The Ghana Gold Board (GoldBod) reported strong export numbers for both small-scale and large-scale miners. Small-scale miners exported 25,780.60 kilograms of gold, valued at about US$2.71 billion, while large-scale miners exported 24,911.21 kilograms, worth US$2.43 billion.

The board said these exports show that mining continues to play an important role in generating revenue and bringing foreign money into the country.

The report also highlighted progress under the new tiered licensing system, which aims to make operations more organised and ensure compliance.

During the period, 577 licences were processed, including 432 Tier 2 licences, 123 Tier 1 licences, and 22 self-financed aggregator licences. Two licences were suspended, and several others were revoked for non-compliance, showing GoldBod’s commitment to cleaning up the sector.

Additionally, two suspensions were recorded, while several licenses were revoked due to non-compliance, reinforcing GoldBod’s commitment to sanitizing the sector.

A month ago, the Ghana GoldBoard (GoldBod) reported a significant revenue accrued from small-scale gold export between January and October 15.

The sector earned US$8 billion in foreign exchange within ten months, according to data from the Ghana Gold Board (GoldBod) and the Precious Minerals Marketing Company (PMMC).

The data reports that small-scale miners exported 81,719.23 kilograms of gold during the period, valued at US$8.06 billion. This marks a sharp increase from US$4.61 billion recorded in 2024 and nearly quadruples the US$2.19 billion achieved in 2023.

Also, the data showed that gold export increased by 29% between 2024 and 2025, thus from 63,647 kilograms to 81,719 kilograms. When compared to 2023, GoldBod’s earnings have grown more than threefold.

The data highlighted a consistent upward trend in both gold volume and export value over the three years, reflecting improved regulation, transparency, and compliance within Ghana’s small-scale mining sector.

The data also showed a robust month-on-month growth in the second quarter of the year, with a revenue of US$1.17 billion recorded in May, US$957.9 million in June, and US$897.6 million in April.

The country’s official gold buying and distribution authority has linked its significant gains to its partnership with PMMC and strengthened oversight of small-scale gold exports and other related gold-purchasing and regulations. The GoldBod-PMMC collaboration has proved efficient since mid-April 2025, when the former began operations, absorbing the functions of the latter.

The collaboration has been instrumental in curbing illicit trade and ensuring that proceeds from gold sales are properly repatriated into the Ghanaian economy.

Meanwhile, GoldBod has been quite instrumental in dealing with leakages in Ghana's gold trading by regulating the affairs of licensed traders.

It functions under the oversight and supervision of the Ministry of Finance of the Republic of Ghana.

GoldBod announced the suspension of the licence of a Tier 2 licensed gold buying company in Tarkwa over breach of several gold laws.

In a statement dated Wednesday, September 16, the governing body overseeing all gold trading and export activities in Ghana informed the public that the company’s license has been suspended and all its shops closed.

“The Ghana Gold Board (“GoldBod”) wishes to inform the general public that it has suspended the license and closed all trading shops of NK Benak Enterprise, a licensed gold buyer (Tier 2), with immediate effect,” the statement stated.

The suspension comes on the heels of the company’s breach of several gold trading laws, leading to the arrest of its CEO, who is currently facing prosecution.

“This action has been taken on grounds of NK Benak Enterprise’s complicity in several gold-related offences, which have led to the arrest of the sole proprietor, Bernard Nkrumah, and his prosecution before the High Court,” GoldBod added.

Consequently, Bernak has lost the right to trade with all other licensed gold trading companies. GoldBod emphasised in the statement, highlighting the commitment to ensuring the appropriate enforcement of all gold trading laws to ensure transparency.

“Notice is hereby given to all licensed traders, miners, and the general public to desist from trading and/or engaging in any form of gold transaction with NK Benak Enterprise forthwith. GoldBod remains committed to enforcing the laws and regulations that govern the gold trading sector in the spirit of accountability and transparency,” it added.