President Mahama’s Approval of GoldBod Act Signals New Era for Ghana’s Gold Industry—-President John Dramani Mahama has reaffirmed his commitment to revolutionizing Ghana‘s mining sector with the establishment of GoldBod and the passage of its enabling legislation. The GoldBod Act, recently approved by Parliament, is poised to enhance operational efficiency in gold trading and exports while ensuring the nation captures greater value from its mineral wealth.
In a video marking the final presidential assent to the Act, President Mahama emphasized GoldBod’s pivotal role in streamlining the industry. “This is the GoldBod Act. This establishes GoldBod as the regulatory authority that will oversee gold exports, ensuring Ghana secures maximum value from its mineral resources,” he stated.
The initiative stems from a strategic overhaul of the mining sector, including the transformation of the Precious Minerals Marketing Company into the Ghana Gold Board (GoldBod). A rigorous process of technical reviews, stakeholder consultations, and parliamentary deliberations preceded the Act’s passage, underscoring the government‘s commitment to formalizing the sector.
GoldBod will serve as the central body responsible for gold trading and export operations in Ghana, with regulatory oversight over licensed agents. The move aims to curb illicit gold trade, boost transparency, and enhance revenue generation for the state.
Last Updated on April 7, 2025 by Senel Media
