Operation Water Shield Launched to Protect Ghana’s Rivers from Illegal Mining
The National Anti-Illegal Mining Operations Secretariat (NAIMOS) has launched Operation Water Shield, a far-reaching national enforcement campaign designed to safeguard Ghana’s major rivers, watersheds, and other vital water resources from the destructive impacts of illegal mining. Unlike previous one-off raids, Operation Water Shield marks a shift to a sustained, intelligence-led strategy that targets priority river systems, especially those close to downstream communities and water-treatment facilities. The campaign, announced in a statement on Friday, September 11, 2026, will focus on heavily threatened rivers such as the Birim, Ankobra, Tano, Bia, Pra, and Offin, along with affected stretches of the Black and White Volta systems. Strategic source areas and upper catchments critical to downstream water quality will also be given priority. NAIMOS emphasised that the operation will be carried out in partnership with relevant security and state agencies, aiming to protect river sources, deny illegal miners access to riverbanks and waterways, dismantle logistics and financial networks enabling illegal mining, and restore degraded water bodies. Sustained monitoring will be established to prevent reoccupation of cleared areas. “Enforcement under Operation WATER SHIELD will be firm, sustained and uncompromising, within the law,” the Secretariat announced. Illegal miners operating on riverbanks and waterways should expect disruptions to their activities, with equipment such as excavators, changfan machines, Source: Apexnewsgh.com
Ghana Launches Operation WATER SHIELD to Target Illegal Mining Financiers and Equipment Suppliers
The National Anti-Illegal Mining Operations Secretariat (NAIMOS) has unveiled a bold new strategy in the fight against illegal mining, announcing plans to target not just miners, but also the financiers, facilitators, and equipment suppliers fueling the destructive activity known locally as galamsey. In a statement launching Operation WATER SHIELD, NAIMOS outlined a national enforcement campaign aimed at safeguarding Ghana’s major rivers, watersheds, and critical water resources from the ravages of illegal mining. Unlike previous efforts that primarily focused on miners and mining sites, this campaign will pursue the wider criminal and financial networks sustaining galamsey operations. The campaign will increase scrutiny on those who facilitate illegal mining, unauthorized manufacturers of chanfang machines, and individuals or companies that rent or supply excavators, water pumps, and other machinery used in the illicit trade. Enforcement, NAIMOS pledged, will be “firm, sustained and uncompromising, within the law.” Illegal miners working on riverbanks and water bodies should expect their operations to be disrupted, with any seized equipment immobilized or dealt with according to the law. Excavators, chanfang machines, water pumps, and dredging equipment will remain prime targets. Operation WATER SHIELD will focus on some of Ghana’s most threatened river systems, including the Birim, Ankobra, Tano, Bia, Pra, and Offin Rivers, as well as critically impacted sections of the Black and White Volta systems. Strategic source areas and upper catchments, which play a crucial role in downstream water quality, will also receive priority attention. NAIMOS described the campaign as a shift from isolated enforcement actions to a sustained, intelligence-led approach that targets both the source and downstream impact zones of illegal mining. The operation will be conducted in collaboration with security and state agencies to deny illegal miners access to riverbanks and waterways, dismantle their logistics and financing structures, and support the restoration of degraded water bodies. Ultimately, the Secretariat’s goal is to “substantially degrade and contain illegal mining within protected watersheds,” restrict the movement of heavy equipment into sensitive river systems, and disrupt the networks that enable illegal mining to persist. Source: Apexnewsgh.com
Ghana Seeks Deeper Partnerships with China for Value-Driven, Sustainable Mining Future
Ghana is charting a new path in its mining sector, calling for stronger partnerships with China and global stakeholders to unlock greater value from its mineral resources. The message was delivered by the Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, at the opening of the 28th China Mining Conference and Exhibition 2026 in Tianjin, China. No longer content with exporting raw minerals, Ghana is seeking cooperation in mineral processing, technology transfer, skills development, and infrastructure to fuel job creation and economic growth. “Our minerals must do more than generate export receipts. They must support value addition, industrial development, skills, jobs and opportunities for our young people,” the Minister emphasized. He stressed that the next chapter of Ghana’s mining industry must prioritize industries, skills, technology, jobs, and stronger communities alongside extraction. To this end, the government is reviewing its minerals and mining framework, formalizing artisanal and small-scale mining, and enhancing transparency and responsible oversight across the gold value chain. Ghana already boasts significant Chinese investments in mining, including Chifeng Gold Group, Shandong Gold, and Zijin Mining. But Mr. Armah-Kofi Buah said future partnerships should go beyond extraction to embrace mineral processing, infrastructure, local supply chains, and skills development. Environmental sustainability also took center stage, with the Minister highlighting measures to combat illegal mining (galamsey), such as the National Anti-Illegal Mining Operations Secretariat (NAIMOS) and the Responsible Cooperative Mining and Skills Development Programme (rCOMSDEP). He appealed for deeper cooperation with China in environmental management, land reclamation, and restoration of mined areas: “A river is not simply an environmental statistic. It is drinking water. It is farming. It is the livelihood of a community. It is an inheritance held in trust for a child not yet born.” Pushing for intelligent mining, Mr. Armah-Kofi Buah outlined Ghana’s efforts to modernize its geological data and digitalize the gold supply chain. He underscored the importance of accurate geological information for attracting investment and ensuring fair negotiations, calling for greater technical exchanges and mining-specific training for Ghanaians. Looking ahead, the Minister said Ghana is focused on refining more gold, advancing an integrated aluminium industry, developing iron ore resources for domestic steel production, and positioning critical minerals for new industries and technologies. This vision will be showcased during Ghana Mining Day at the conference under the theme, “Building Ghana’s Next Frontier: Geology, Value Addition and Investment Partnership.” He invited Chinese and global investors to explore mutually beneficial opportunities, stating, “We have the resources. China has deep experience in capital, technology, processing, infrastructure and industrial development. Between us lies an opportunity to build commercially sound partnerships in which Ghana creates more value at home, investors succeed, communities share in prosperity and both countries emerge stronger.” China’s Vice Premier, He Lifeng, responded by expressing China’s readiness to support developing economies with funding, technology, and fair benefit-sharing through open and transparent partnerships. The 28th China Mining Conference and Exhibition runs in Tianjin from September 10 to 12, 2026, under the theme, “Win-Win Cooperation, Green and Intelligent.” Source: Apexnewsgh.com
Sam George: Galamsey Accounts for 25% of Fibre Network Disruptions in Ghana
Illegal mining, known locally as galamsey, is fast becoming the unseen saboteur of Ghana’s digital lifelines. At a recent Government Accountability Series event, Communications, Digital Technology and Innovations Minister Samuel Nartey George revealed a troubling statistic: about one in every four fibre-optic cable cuts recorded nationwide can be traced back to the activities of galamsey operators. Beneath Ghana’s bustling towns and quiet villages, a complex web of fibre-optic cables keeps people connected, to each other and to the world. But this vital infrastructure faces a growing threat from those digging for gold. “Twenty-five percent of fibre cuts are a result of galamsey,” Minister George stated. “The telecom industry is one of the worst hit by the activities of galamsey operators.” Unlike road construction crews, who typically alert authorities when their work could disrupt underground cables, illegal miners rarely provide any warning. As they excavate in search of precious minerals, they often damage fibre lines, leaving telecommunications companies scrambling to trace and repair the breaks, often without any idea where to begin. The result is widespread disruption, especially in areas where there are no alternative fibre routes. Voice and data traffic can grind to a halt, leaving entire communities isolated from modern communication. The repercussions ripple far beyond mere inconvenience. Each fibre cut forces telecom companies to deploy teams and equipment at significant cost, straining their resources and threatening the reliability of Ghana’s digital services. Minister George warned that if this trend continues, the backbone of the nation’s telecommunications could be fatally undermined, deepening network disruptions and jeopardizing the country’s digital future. Source: Apexnewsgh.com
Gbane Opinion Leader Raises Security Concerns Over Mining Suspension
An opinion leader in the Gbane community in the Talensi District of the Upper East Region, Alhaji Fahad Bagremertamme, has expressed concern over the potential security implications following the order by the Inspector of mines ordering Nanlamtaaba Enterprise and Earl International Mining Company to suspend its mining operations. According to Alhaji Fahad, the people of Gbane respect the rule of law and have no objection to the court’s decision if it is implemented according to due process. He, however, questioned the activities of individuals he identified as “Poloo and his associates,” arguing that their actions were creating tension within the community. “We respect the rule of law, and if the judge has said the company should come and work, we have no problem with that because we respect the jurisprudence,” he said. He added that the court’s directive by the Inspector of mines for the company to stop working for two weeks could have serious consequences for the community, particularly given the high level of unemployment and insecurity in the area. Alhaji Fahad said a significant proportion of residents depend directly or indirectly on mining-related activities for their livelihoods, and expressed concern that a sudden suspension of operations could leave many young people without work. “Almost 45 or 50 percent of the people here are working in the mining sector. So, if these guys are asked to stay at home for two weeks, it could bring a lot of disturbance,” he stated. He further raised concerns about the security situation in Gbane, noting that the community has experienced incidents of armed robbery and other security challenges. According to him, there are also concerns surrounding individuals allegedly providing protection for persons involved in the mining dispute. He alleged that some individuals had previously been arrested by the military with AK-47 rifles and sent to court, but said the community was uncertain about the outcome of the case. “These are the same people back there protecting Poloo. So, I don’t know,” he said. The situation, he explained, had heightened fear among residents, particularly those working around mining sites. He recounted concerns about armed individuals allegedly approaching people at mining locations and ordering them to leave, questioning the circumstances under which such actions were taking place. Alhaji Fahad therefore appealed to the government and relevant security authorities to intervene urgently to find a peaceful and lasting solution to the dispute. He warned that if the situation was not addressed, community members could be forced to consider protecting themselves, a development he said could further escalate tensions. He nevertheless stressed that the community’s leadership had been urging the youth to remain calm and avoid retaliation. “We have advised all our youth to calm down and not retaliate. If not for that, by now things could have been worse,” he said. The opinion leader maintained that preserving peace remained the priority, urging the government and security agencies to act swiftly to prevent the mining dispute from developing into a wider security crisis in Gbane. Source: Apexnewsgh.com
Nanlamtaaba PRO Challenges Alliance for Gban Claims, Says Company Is Legally Registered
John Yaro, Public Relations Officer (PRO) for Nanlamtaaba Enterprise, has strongly rejected several claims made by the Alliance for Gban Development during its recent press conference over the ongoing mining dispute in the Gbane community of the Upper East Region. Responding to the allegations, Mr. Yaro challenged assertions concerning the mining status and legal standing Zongdaan Boyak Kolog popularly known as Poloo,” as well as claims about security protection allegedly being provided to him. According to him, contrary to claims that Boyak Kolog does not have a mining licence, he is currently operating as a small-scale miner and has been involved in a legal dispute with the Minerals Commission since 2020. He explained that the Minerals Commission had issued a licence in connection with the disputed concession, prompting Boyak Kolog to seek legal redress. “He went to court because the Minerals Commission issued a licence over his licence in 2020. He went to court and obtained an injunction against the Minerals Commission and the so-called international act,” Mr. Yaro stated. He further claimed that the High Court had issued orders restraining certain parties from undertaking activities around the concession involving Nanlamtaaba Enterprise. According to him, the court orders affected the operations of the company and also placed restrictions on certain state officials in relation to the dispute. Mr. Yaro therefore questioned claims that Puyak Kolog was operating without a valid licence. “If he has no licence, how can the Republic give him police protection?” he asked. “The man has no licence. How can police protection be applied in support of him?” He urged journalists and the public to critically examine the various claims being made by the parties rather than accepting allegations without asking questions. The Nanlamtaaba PRO also addressed the issue of security personnel allegedly protecting Boyak Kolog. He disputed suggestions that the individuals providing security were unregistered or unknown entities, insisting that they were private security companies. He also maintained that police presence around the disputed mining area was real, although the personnel might not always appear in uniform. “The police are always with us,” Mr. Yaro said, adding that he personally has police protection wherever he moves. He questioned whether critics expected police officers to be visibly present in uniform before acknowledging their presence. According to him, the security arrangements were intended to maintain peace and protect people within the area rather than demonstrate support for one side of the dispute. Mr. Yaro further said Nanlamtaaba Enterprise had decided to respect the current stop-work directive affecting the parties involved in the dispute. He indicated that the company was prepared to appear before the relevant authorities in Accra to present its case and provide clarification on the issues surrounding its operations. “We have a stop-work order within Earl-International and Nanlamtaaba. We are going by it. We will be invited to Accra, and we will go and make our case,” he stated. He dismissed the Alliance for Gban Development’s allegations as lacking substance, describing them as an attempt to divert attention from the substantive issues surrounding the dispute. “Nanlamtaaba is a registered company,” Mr. Yaro stressed. The latest development adds another layer to the ongoing tensions surrounding mining activities in Gbane, with the two sides presenting sharply different accounts of the legal status of the mining operations, security arrangements and the circumstances surrounding the disputed concession. Source: Apexnewsgh.com
Gbane Youth Petition Mahama Over Mining Dispute, Insecurity and Alleged Assaults
The Alliance for Gban Development, a registered youth organisation, has petitioned President John Dramani Mahama over growing tensions, insecurity and a protracted mining dispute involving Nanlamtaaba Enterprise and Earl International Group Ghana Gold Limited at Gbane in the Talensi District of the Upper East Region. This was revealed on Saturday during press conference organized by a Gban group known as Alliance for Gban Development. The group Secretary Mr. John Kpal who read out the statement, says it represents the concerns of the youth, traditional leaders and residents of Gbane. He raised concerns about what it described as a growing culture of impunity and disregard for regulatory directives amid heightened tensions in the community. At a press briefing, the group also the reveal the situation had become particularly tense over the past eight weeks following the enforcement of a High Court order directing the Ghana Police Service to provide protection for Nanlamtaaba Enterprise to undertake mining activities in the area. The Alliance stressed that while it respected the authority of the courts, it believed the enforcement of judicial decisions must also take into account community safety, peace and stability. According to the group, a Minerals Commission investigative survey conducted in the Gbane area in 2015 established that gold deposits in the area were deep-seated and recommended that the area be reserved for large-scale mining operations. The group said the government subsequently approved the recommendation and blocked out the Gbane area for large-scale mining. Following the acquisition of its mining lease, Earl International reportedly engaged affected small-scale concession holders, with the process facilitated by the Minerals Commission, the Environmental Protection Agency and the Upper East Regional Security Council. The Alliance said that in July 2021, Earl International entered into an agreement with affected small-scale concession owners, including Nanlamtaaba, under which the concessionaires were to receive two per cent of Earl’s gross production twice annually. It further alleged that goodwill payments were also made to affected concession owners. The youth group claimed that Nanlamtaaba’s Managing Director had acknowledged receiving substantial payments from Earl International, although he subsequently indicated that he believed the payments were intended for transportation and related expenses. The group said a High Court in Bolgatanga subsequently issued an interim ruling allowing Nanlamtaaba to undertake mining activities in Gbane, with the Ghana Police Service ordered to provide security. While reiterating its respect for the judiciary, the Alliance questioned the basis for allowing Nanlamtaaba to operate, claiming that records from the Minerals Commission indicate that the company’s 25-acre mining licence expired on May 14, 2025. It further argued that possessing a mining licence alone was insufficient, as mining operators are also required to obtain the necessary operating and environmental permits. The group therefore questioned why Nanlamtaaba was allegedly allowed to continue mining despite what it described as regulatory concerns. A major concern raised at the press briefing was the security arrangements surrounding the enforcement of the court order. The Alliance questioned whether the police were still providing the protection directed by the court, claiming that armed individuals who were neither police officers nor personnel of a registered security company had instead been seen providing security for Nanlamtaaba’s operations. The group alleged that some of these individuals had been involved in confrontations with residents. According to the Alliance, armed personnel carrying pump-action firearms recently entered underground workings belonging to Earl International. During the incident, it said, one of Nanlamtaaba’s armed guards accidentally shot himself in the foot and had to be carried out of the mine by Earl International security personnel. The group said it had photographs and video footage relating to the incident. The Alliance also alleged that three young men from Gbane were recently assaulted by armed security guards allegedly associated with Nanlamtaaba after they were found sitting under a tree near an area claimed by the mining company. According to the group, the incident nearly escalated into a major confrontation before the intervention of military personnel and community elders. The youth organisation said such incidents were creating fear among residents and could potentially trigger wider conflict if not addressed urgently. The group also raised concerns over directives issued by the Chief Inspector of Mines ordering the cessation of mining operations by both Earl International and Nanlamtaaba. It said Nanlamtaaba allegedly continued its activities despite an earlier directive. The Alliance further referred to a September 2, 2026 directive ordering a two-week cessation of operations. While acknowledging the regulator’s authority to suspend mining activities where necessary, the group questioned why the latest directive allegedly affected areas far beyond the disputed concession. It expressed concern about the impact of the shutdown on the estimated 2,000 workers associated with Earl International and their families. The youth group argued that if the dispute concerns a specific area, regulatory restrictions should be limited to that area rather than affecting an entire mining operation. The Alliance said it was not asking President Mahama to overturn the High Court’s decision, stressing that such a decision falls within the jurisdiction of the judiciary. Instead, it called on the government to ensure that the court’s order for state security was properly implemented. Among its demands, the group called for: The provision of professional, uniformed security personnel to enforce the court order where necessary. The removal of what it described as untrained armed guards from the area. Enforcement of directives issued by the Minerals Commission and the Chief Inspector of Mines. Investigations into the alleged assault of the three Gbane youths. Investigations into alleged seizure of property and the reported underground shooting incident. Prosecution of persons found culpable of criminal offences. An explanation from the Ghana Police Service regarding its alleged acceptance of a motorbike reportedly seized by private actors. Immediate measures to prevent the mining dispute from escalating into an inter-community conflict. “We Are Restraining Our Youth” The Alliance warned that the continued tensions could have serious consequences if the state failed to intervene. It said community elders and residents had so far exercised restraint and worked to prevent
NHIA Executive Hits Back at GoldBod Critics, Says Claims of Losses and Forex Operations Are Misleading
The Deputy Chief Executive Officer (DCEO) in charge of Finance and Investment at the National Health Insurance Authority (NHIA), Anatu Anne Seidu Bogobiri Esq., has strongly rejected allegations surrounding the operations and financial performance of the Ghana Gold Board (GoldBod), describing the claims as misleading and politically motivated. In a statement dated September 4, 2026, Ms. Bogobiri argued that GoldBod’s legal mandate, financial performance and contribution to Ghana’s foreign exchange reserves do not support claims that the institution is operating like a forex bureau or making financial losses. She also cautioned the opposition New Patriotic Party (NPP) against turning the allegations into a political campaign message ahead of the 2028 general elections. GoldBod operating within its legal mandate According to Ms. Bogobiri, GoldBod’s activities are firmly backed by the Ghana Gold Board Act, 2025 (Act 1140), which received presidential assent in April 2025. She explained that the legislation gives GoldBod the responsibility of generating foreign exchange for the country while supporting the Bank of Ghana’s efforts to build up the nation’s gold reserves. She therefore dismissed comparisons between GoldBod’s foreign exchange activities and those of conventional forex bureaux, describing such comparisons as a misunderstanding of the institution’s statutory responsibilities. GoldBod generated US$1.315 billion in August Ms. Bogobiri cited GoldBod’s reported foreign exchange generation as evidence of the institution’s growing economic importance. Referring to a Ghana News Agency report published on September 2, 2026, she stated that GoldBod generated US$1.315 billion in foreign exchange in August alone. She explained that the funds came from gold exports and were subsequently made available to the Bank of Ghana and commercial banks under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP). According to her, US$668.21 million was sold directly to commercial banks, while another US$646.59 million was made available to the Bank of Ghana. Ms. Bogobiri stressed that the transactions should not be mistaken for forex trading. “GoldBod does not buy forex. It only sells the forex it generates from its own gold exports,” she stated. She described the arrangement as the surrender of export proceeds rather than the operation of a forex bureau. ‘Show us the loss’ The NHIA executive also challenged assertions that GoldBod is operating at a loss. She accused critics of presenting the institution’s operational expenditure as losses without properly considering the revenue generated and the wider economic benefits of its activities. She cited GoldBod’s second-quarter 2025 figures, which, according to her, recorded GH¢381 million in revenue against expenditure of GH¢24.7 million. Ms. Bogobiri further referred to a technical assessment conducted by economists from the University of Ghana and led by Professor Festus Turkson. She said the assessment found that GoldBod had formalised 39.4 tonnes of gold that had previously been smuggled out of the formal economy, with the gold valued at about US$3.8 billion in additional foreign exchange. According to her, the assessment established a benefit-cost ratio of 18:1 when compared with the reported US$214 million Bank of Ghana trading provision. She argued that these figures demonstrate that GoldBod’s operations should be viewed in terms of their broader economic returns rather than simply through expenditure figures. “That is a national gain, not a loss,” she declared. GoldBod helping strengthen Ghana’s reserves Ms. Bogobiri further maintained that GoldBod’s importance goes beyond its immediate financial statements. She said the institution is helping Ghana generate foreign exchange, accumulate gold reserves and support efforts aimed at stabilising the cedi. She accused critics of concentrating on selected expenditure figures while overlooking the foreign exchange earnings and gold accumulation generated through GoldBod’s operations. For her, the institution’s performance must therefore be assessed against its broader contribution to Ghana’s economic and reserve position. Warning to NPP over 2028 campaign narrative Ms. Bogobiri concluded her statement with a direct warning to the NPP against what she described as an attempt to repeatedly circulate inaccurate claims about GoldBod in order to turn them into a political campaign narrative ahead of the 2028 elections. She cautioned that repeating allegations would not automatically make them credible. “If some in the NPP think repeating these falsehoods until they become a campaign slogan for 2028 will work, they should think again,” she warned. She ended with a firm declaration: “THIS PROPAGANDA IS DEAD ON ARRIVAL.” The statement was signed by Anatu Anne Seidu Bogobiri Esq., Deputy Chief Executive Officer in charge of Finance and Investment at the National Health Insurance Authority, and dated September 4, 2026. Source: Apexnewsgh.com
Presbyterian Moderator Urges Political Will and Unity to End Galamsey
The Moderator of the Presbyterian Church of Ghana, Rt. Rev. Dr Abraham Nana Opare Kwakye, has called on the government to show decisive political will to end illegal mining, known as galamsey, which continues to devastate communities and pollute water bodies across the country. In an interview with Bernard Avle on Channel One TV’s The Point of View, Rt. Rev. Dr Kwakye stressed that the government possesses both the authority and capacity to eradicate galamsey, but must act with determination. “Government has the political power. It also has the might to crush galamsey. If government wants to crush galamsey, government is able to,” he stated. Highlighting the environmental and economic toll of illegal mining, he pointed out that vast sums are spent on water treatment due to pollution, while mining communities are left in ruins. “The communities where mining is taking place are getting destroyed. And our waters are polluted. And we spend huge amounts of money to treat water,” he noted. The Presbyterian Church, he explained, has long raised concerns about galamsey and continues to use its platform for advocacy. This year, the Church’s annual symposium was moved to Tarkwa, a mining hub, to give participants firsthand experience of the effects of illegal mining. The event was followed by the National Red Sunday campaign, which further spotlighted the crisis. Rt. Rev. Dr. Kwakye called on all Ghanaians to unite in the fight against galamsey, warning that its consequences stretch far beyond mining communities. “We sit in Accra, there’s no galamsey going on here, but we are all reaping from what is happening in these places,” he said. He urged a bipartisan, non-partisan approach to the problem, insisting that environmental damage does not respect political affiliations. “The water that is polluted does not ask whether your lips are NDC or New Patriotic Party. They don’t seek your partisan colours,” he remarked. Addressing calls for a state of emergency, Rt. Rev. Dr. Kwakye said he prioritises tangible results over declarations, emphasising the need for effective enforcement and real environmental restoration. “I want results, not just a state of emergency… What we are seeking is for this nation to do what is right. And for this nation to be united. And that is why we are asking for a bipartisan approach. It’s important that we save ourselves,” he concluded. Source: Apexnewsgh.com
Chamber of Mines CEO Hails New Gold Refining Directive as Boost for Local Value Creation
The Ghana Gold Board (GOLDBOD) has issued a new directive requiring all self-financing aggregators (SFAs) to refine gold doré locally before export, in a move welcomed by industry leaders as a major step toward retaining more value within Ghana’s borders. In a notice to SFAs, GOLDBOD announced that no gold doré shall be exported in its unrefined state going forward. The directive also stipulates that every offtake agreement or commercial arrangement between an SFA and an approved offtaker must specifically include a clause mandating the refining of all gold doré in Ghana prior to export. Reacting to the development on TV3’s Ghana Tonight programme, Ghana Chamber of Mines CEO Ing Ken Ashigbey described the policy as a positive move, noting its alignment with existing arrangements for large-scale mining companies. “It’s one of the positive steps that we’re taking,” he said, referencing the current agreement requiring 30% of large-scale mine doré to be refined locally and, in partnership with London Bullion Market Association (LBMA) refineries, sold to the Bank of Ghana as part of reserve accumulation. Ashigbey expressed optimism that extending similar requirements to artisanal and small-scale mining (ASM) gold would enhance value retention. “If we’re going to get to that point, then the issue about value retention would improve,” he stated. He also highlighted the potential for the 30% arrangement to help local refineries build capacity and eventually achieve LBMA accreditation, further boosting local industry. However, Ashigbey cautioned that Ghana’s refining sector must continue to modernise and improve its competitiveness. “There are things that we need to do to make sure that our refinery in this country is also competitive, so that if we are refining in this country, we’re doing that very competitively,” he advised. The new GOLDBOD directive marks a significant milestone in Ghana’s efforts to add value to its gold exports and promote the growth of local refining capacity, with stakeholders hopeful it will lead to increased economic benefits for the nation. Source: Apexnewsgh.com