The Ghana National Association of Small-Scale Miners (GNASSM) has expressed its satisfaction with the Government’s efforts to establish the Ghana Gold Board (GoldBod), a move aimed at formalising gold trading in the country.
The association commended the level of transparency and stakeholder engagement in the process, noting that small-scale miners are well represented on the technical committee responsible for developing the legislative framework.
“We appreciate the inclusivity of this initiative, which ensures that the voices of all industry players are heard,” said Godwin Nickleson Amarh, a GNASSM representative.
The technical committee, constituted by the Minister of Finance, includes key stakeholders such as the Minerals Commission, financial institutions, gold service providers, and representatives from the large-scale mining sector. This diverse participation, GNASSM believes, will ensure that GoldBod operates transparently and effectively.
“The involvement of various industry experts guarantees that the framework being developed will be robust and sustainable,” noted Abdul-Razak Alhassan, another GNASSM leader.
The committee’s engagements with miners and other stakeholders have also played a crucial role in shaping a bill that prioritises fair market pricing and industry best practices.
Currently, Ghana’s gold trading sector remains largely informal, resulting in significant revenue losses for the Government and missed opportunities for economic stability.
GNASSM is convinced that once GoldBod is established through an Act of Parliament, it will introduce the necessary policies to regulate gold transactions, ensuring that the nation benefits fully from its gold resources.
“This initiative is long overdue, and we believe it will create a structured market that benefits both miners and the economy,” GNASSM stated.
The association is particularly pleased that the GoldBod’s governing board will include representatives from all relevant sectors, fostering a more inclusive and internationally compliant gold trading system.
As the legislative process progresses, GNASSM remains committed to supporting the Government’s efforts in setting up GoldBod. The association has assured its members and the public that it will continue to provide updates on the developments.
“We are optimistic about the positive impact this initiative will have on our industry, and we encourage all stakeholders to support it,” said Amarh.
GNASSM believes that with the right structures in place, the small-scale mining sector can contribute significantly to national development while ensuring responsible and transparent gold trading.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.