Accra, Ghana – The Chief Executive Officer of the newly established Ghana Gold Board (GoldBod), Sammy Gyamfi, has dismissed allegations that the organization is fueling illegal mining by creating a market for galamsey gold.
Speaking on Joy FM’s Super Morning Show, Mr. Gyamfi described such claims as misleading. “To create the impression that nobody was buying galamsey gold and all of a sudden GoldBod is now giving it a market is clearly wrong,” he said.
He explained that GoldBod does not directly purchase gold. Licensed private buyers, who operate mainly from offices in district and regional capitals, make purchases of gold brought to them. These buyers cannot verify whether the gold was mined responsibly.
The CEO acknowledged that traceability in the gold sector has been a longstanding challenge. “It is this five-month-old corporation called GoldBod that has now been tasked to find a solution to that problem. You think we can find a solution in five months to a problem that has existed for decades?” he said.
To address this, GoldBod plans to introduce a traceability system by the end of the year, using modern technologies such as satellite monitoring, RFID, and blockchain. The system will require licensed miners to seal and scan their gold with unique codes, allowing buyers to track its source even after melting.
Mr. Gyamfi emphasized that traceability will not only help combat illegal mining but also open access to higher-value international markets. Currently, Ghanaian small-scale gold is largely limited to Dubai, Hong Kong, India, and Turkey. With traceable gold, the country could access LBMA refineries in Switzerland and China, where prices are higher.
“People are having the wrong impression that Gold Board is in the market buying galamsey gold. Nothing of that sort is happening,” he concluded, reiterating the Board’s commitment to responsible and sustainable mining.
Source – My News Ghana
