President John Dramani Mahama has announced a major breakthrough in Ghana’s mining sector, revealing that the Ghana Gold Board (GOLDBOD) has generated $5 billion in export revenue from the artisanal and small-scale mining (ASM) sector since the beginning of the year.
Speaking at the inauguration of the Gold Board Security Task Force, the President noted that the performance of the ASM sector now outpaces large-scale mining exports—a historic first for the country.
“Since its interim formation in January 2025, the Ghana Gold Board has implemented aggressive reforms, especially in the artisanal and small-scale mining sector. By May alone, GOLDBOD exported 11 tonnes of gold valued at USD 1.1 billion.
Cumulatively, exports from the small-scale sector reached 51.5 tonnes, valued at approximately USD 5 billion,” President Mahama said.
He added that this figure represents a 95% increase from the same period in 2024.
“This is the first time in our history that the small-scale sector has surpassed large-scale mining in export value,” he remarked.
The President attributed the success to focused efforts in formalizing the ASM sector and increasing transparency and traceability in gold exports. He praised the sector’s growing contribution to the national economy.
“These inflows have strengthened our foreign reserves, improved our balance of payments, and helped stabilize the Cedi. More importantly, they reaffirm our belief that artisanal miners, when supported and formalized, can be powerful allies of development,” he stated.
President Mahama emphasized that the creation of the Gold Board and its dedicated Security Task Force is a critical pillar of Ghana’s broader economic transformation agenda, with a focus on transparency, value retention, and long-term sustainability in the gold industry.
