The Ghana National Association of Small-Scale Miners has voiced strong support for the government’s landmark initiative to refine all locally produced raw gold before export, a national policy taking effect from Tuesday, 1 September 2026.
National Communications Director of the association, Abdul Razak Alhassan, emphasized that the Ghana Gold Board (GoldBod) remains the legitimate and mainstream platform for gold trading in the country.
He noted that the association will back any regulatory policy aimed at driving industry expansion, fostering value addition, and building a resilient national economy.
The association’s backing follows a compliance notice issued on 24 August 2026 by the Compliance Directorate of GoldBod.
Under the regulatory framework anchored in the Ghana Gold Board Act, 2025 (Act 1140), all Self-Financing Aggregators (SFAs) and their approved offtakers are strictly required to process gold doré within local refineries prior to any international shipment.
Mr. Alhassan disclosed that small-scale miners had previously urged the state to accelerate concrete measures to process the country’s mineral endowment locally.
He asserted that raw material value addition represents the surest path to guaranteeing that the broader populace derives tangible economic benefits from Ghana’s natural wealth.
He highlighted that while local processing may introduce temporary financial and operational adjustments for traders, the long-term economic gains—most notably youth employment—far outweigh the initial operational costs.
He explained that extracting gold ore already carries immense cost and physical exertion, and adding local value must be embraced by every Ghanaian because operationalizing local refineries will create substantial employment opportunities for young people across the mining landscape.
The policy directive taking effect on 1 September 2026 completely bans the export of raw gold doré under any commercial contract.
Under the guidelines, export permits will no longer be granted by GoldBod unless the gold has undergone local processing at designated or approved refineries, all refining fees are settled between aggregators and offtakers, and full regulatory assay requirements are satisfied.
GoldBod has further instructed all market aggregators and their international offtakers to amend existing commercial contracts to capture the mandatory local refining clause.
The regulator warned that any attempt to export unrefined gold after the 1 September deadline constitutes a direct breach of operational licenses, carrying severe administrative penalties, license revocations, and prosecution under Act 1140.
