Ghana: GoldBod to Launch Gold Traceability Pilot with 600 Small-Scale Mines

The Ghana Gold Board (GoldBod) is set to roll out a nationwide gold traceability initiative, beginning with about 600 artisanal and small-scale mining (ASM) operations. The pilot marks a major step toward ensuring that gold entering Ghana’s formal market is responsibly and sustainably sourced.

Speaking at the Africa Trade Summit 2026 at the Kempinski Hotel in Accra on January 29, Deputy Chief Executive Officer Richard Nunekpeku, Esq., said the pilot will establish the foundation for a comprehensive traceability framework that will eventually extend to all mining operations feeding into Ghana’s export and refining system.

According to Mr. Nunekpeku, the initiative is central to GoldBod’s mission of advancing sustainability, transparency, and international compliance across the gold value chain. “GoldBod will support up to 600 mines through the traceability project to ensure all gold supplied to the Gold Coast Refinery comes from sustainable sources,” he stated.

Established under the Ghana Gold Board Act, 2025 (Act 1140), GoldBod is mandated to oversee, monitor, and carry out gold purchasing, selling, assaying, refining, and exporting, while generating foreign exchange and contributing to the Bank of Ghana’s reserve accumulation efforts.

Mr. Nunekpeku emphasized the Board’s vision to become a world-class gold trading institution that promotes traceability, sustainability, and value addition to drive national economic transformation. He traced the organization’s origins from the Ghana Diamond Marketing Board, founded in 1963, through its evolution into the Precious Minerals Marketing Company, and finally its transformation into the Ghana Gold Board with an expanded mandate and regulatory strength.

In reviewing its 2025 performance, he reported that GoldBod exported about 100 tonnes of ASM gold, generating roughly US$10 billion in export revenue. He credited this success to enhanced gold trading reforms, improved licensing, and stronger cooperation with stakeholders across the value chain—including buyers, refiners, jewelers, and fabricators—under a centralized trading framework.

Looking forward, GoldBod plans to deepen efforts to formalize the ASM sector, promote responsible mining practices, expand local value addition, and strengthen compliance with global standards. The Board has already signed a refinery partnership with Gold Coast Refinery and is in talks with additional refineries to ensure all ASM gold undergoes domestic refining.

Mr. Nunekpeku explained that refining gold locally will enable Ghana to retain refining fees, create employment, reduce purity losses, and enhance value retention within the economy. As part of its growth strategy, GoldBod also intends to establish its own assay laboratory and modernize GoldBod Jewellery Limited with new product designs to boost competitiveness.

Beyond its core operations, GoldBod continues to support communities, institutions, and individuals through its Special Intervention Programme Unit and Corporate Social Responsibility activities, while building partnerships with international organizations such as the World Gold Council to promote a sustainable and responsible ASM sector.

Mr. Nunekpeku expressed optimism that the traceability pilot, expanded refining capacity, and strategic partnerships will help GoldBod surpass its 2025 performance and deliver even greater economic benefits to Ghana.