In a massive show of support, Small-Scale Miners, Gold Dealers, and Jewellers gathered at the “Miklin” Hotel in Kumasi, the Ashanti region’s capital, to discuss the Goldbod initiative. Led by Sammy Gyamfi Esq., the Ag. Managing Director of the Precious Mineral Marketing Company (PMMC), the Goldbod Technical Committee engaged in insightful and engaging discussions with attendees.
The Goldbod initiative, introduced by President John Dramani Mahama, aims to restructure and streamline the gold trading industry, maximizing national benefits across the gold value chain. Attendees overwhelmingly praised the initiative, recognizing its potential as a game-changer for the industry.
The draft Bill for the establishment of the Goldbod has undergone extensive stakeholder consultations, securing approvals from the Ministry of Finance, Ministry of Lands and Natural Resources, and the office of the Attorney-General and Minister of Justice. The Ministry of Finance and Technical Committee are now working to obtain the remaining approvals from Cabinet and Parliament.
Once the GoldBod Bill is passed into law, the Goldbod will take over the PMMC, operating with enhanced objectives, powers, and functions. Its primary goal will be to generate foreign exchange for the country and support the Bank of Ghana’s gold reserve accumulation program.
The Goldbod will have exclusive rights to buy, sell, and export gold from the Small-Scale Mining Industry, as well as purchase and export gold from large-scale mining firms. Additionally, it will promote value addition policies, responsible sourcing, and traceability, while combating gold smuggling and providing support to Small-Scale Miners.
Ruth Abla ADJORLOLO
