President John Dramani Mahama has expressed confidence that the newly established Ghana Gold Board (GoldBod) will significantly improve returns from the country’s gold mining exports.

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Speaking in a documentary-style video that tracks the evolution of the GoldBod initiative, President Mahama said the creation of the regulatory body, backed by legislation, marks a crucial step in restructuring Ghana’s mining industry for the better.

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“This is the GoldBod Act. This sets up the GoldBod that will streamline Ghana’s gold sector, including our exports, to make sure that Ghana earns more value for money from our gold mining exports,” he affirmed.

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The video chronicles the transformation of the Precious Minerals Marketing Company (PMMC) into what is now the Ghana Gold Board. It captures key milestones such as the inauguration of a technical committee to spearhead the transition, extensive stakeholder consultations, and the subsequent passage of the establishing bill by Parliament on Friday, March 28.

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GoldBod, as the sole authority overseeing gold trading and export in the country, has been granted monopoly status, with its regulatory mandate confined to agents licensed under its system.

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According to the president, the implementation of the GoldBod Act will not only streamline operations in the sector but also enhance oversight, transparency, and revenue mobilization from Ghana’s most valuable natural resource.

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