Gold Board Introduces Gold Traceability System
Ghana's Gold Board is implementing a new system to ensure all small-scale gold is traceable and responsibly sourced. This initiative involves stricter licensing, enforcement, and a national traceability system. The goal is to formalize the sector, bring more artisanal miners into the regulated system, and prevent the purchase of illegally mined gold.
The Gold Board has announced new rules to track all small-scale gold in Ghana. The CEO, Sammy Gyamfi, said these rules will make sure all gold bought is from legal sources. This plan includes tough licensing and strong enforcement.
First, the Gold Board is making sure gold trading is formal. All buyers must have a special license from the Gold Board. This license comes with strict rules. Buyers can only buy gold from licensed miners. Breaking these rules is a crime under Section 50 (9C) of the Gold Board Act. This means someone buying gold from an unlicensed miner can be taken to court.
Second, the Gold Board is putting in place systems to check where gold comes from. The goal is to make sure every gram of gold comes from a responsible mine, not just a licensed one. This also means helping more small-scale miners join the formal system. The Gold Board is working with the Ministry for Lands and Natural Resources to do this.
This new and formal system and traceability solution is being developed now. A main goal is to protect Ghana’s gold resources and improve how gold is bought and sold.
Source: StatsGH — Ghana's data-driven news platform