The National Concerned Association of Small-Scale Miners, Ghana (NCSSMAG) has thrown its full support behind the Mahama administration’s decision to establish a Gold Board (GOLDBOD) to regulate and enhance gold trading in the small-scale mining sector.
In a statement, NCSSMAG described the move as “long overdue” and emphasized that if implemented effectively, the initiative would ensure fair pricing for small-scale miners, curb exploitation by foreign buyers, and maximize national revenue from the sector.
The association also commended the transparency and broad consultative approach adopted by the Sammy Gyamfi-led GOLDBOD Technical Committee, expressing confidence that the initiative would create a well-structured gold trading framework.
“For us in the NCSSMAG, it is refreshing to see that our call for a structured gold trading system is being prioritized by the new Mahama government,” the statement read.
NCSSMAG further lauded the government’s proposal to use the Gold Board as a support system for small-scale miners, providing services such as geological investigations, concession viability assessments, equipment financing, sustainable environmental management, and concessional financing. According to the group, these measures could be a “game-changer” for the industry.
Despite the legal mandate of the Precious Minerals Marketing Company (PMMC) to buy gold from small-scale miners, the association pointed out that inadequate government funding has limited the company’s ability to compete in the market. This shortfall has led miners to rely on foreign buyers, resulting in revenue losses for both the miners and the state. The proliferation of multiple state agencies in the local gold trade has further complicated the situation.
To address these challenges, NCSSMAG urged the government and Parliament to allocate sufficient resources to the Gold Board, ensuring a well-structured and competitive gold market that benefits small-scale miners.
“At a time of economic crisis, the GOLDBOD is Ghana’s best bet for generating significant foreign exchange, stabilizing the cedi, and revitalizing the economy,” the statement noted.
The association called on the government to expedite the establishment of the Gold Board, emphasizing that the initiative must be treated with urgency in the national interest.
NCSSMAG concluded by appealing to all stakeholders to rally behind the initiative, stressing that a well-regulated gold sector would ultimately serve the supreme interest of Ghana.
