The Ghana Gold Board (GoldBod) will, from July 1, 2026, purchase 30percent of the gold output of all large-scale mining companies in Ghana. This comes after the board reached an agreement with the Ghana Chamber of Mines.
Under the arrangement, each large-scale mining company will sell the agreed percentage of its gold output to the GoldBod locally in doré form, at a discount of 0.55 percent and all purchases will be made in Ghana cedis at the Bank of Ghana Reference Rate.
The new deal replaces a previous 2022 arrangement between the Bank of Ghana and the Chamber of Mines and represents a significant shift in how Ghana manages its gold resources domestically.
All doré gold purchased by the GoldBod will be refined locally to ensure value retention within the country, before being shipped to an LBMA-accredited refinery for melting and stamping then delivered to the Bank of Ghana as part of the country’s gold reserves.
The GoldBod, in a statement, said the arrangement was strategically designed to help Ghana achieve LBMA accreditation for at least one local gold refinery by 2030, in line with President Mahama’s vision of achieving zero raw mineral exports by the same year.
It also forms part of the Ghana Accelerated National Reserve Accumulation Program (GANRAP), which targets foreign reserves equivalent to 15 months of import cover by the end of 2028.
Full details of the Memorandum of Understanding signed between the Ministry of Finance, Ministry of Lands and Natural Resources, Ghana Gold Board, the Bank of Ghana, and the Ghana Chamber of Mines will be published on Monday, July 29, 2026.
