GoldBod Faces Inquiry Over GHS27.5 Million Geological Deal
GoldBod, a state gold trading agency, is under scrutiny for engaging in a GHS27.5 million geological investigation deal and reportedly acquiring 20 mineral areas. A Member of Parliament claims these actions may go beyond GoldBod’s legal mandate, which focuses on gold trading. Concerns include the absence of the Mines Ministry's involvement and the proposed 'model mines' initiative, which lacks ...
A Member of Parliament for Juaben has raised concerns regarding a GHS27.5 million geological investigation deal by GoldBod. The state agency for gold trading reportedly signed an agreement with the Ghana Geological Survey Authority (GGSA) for work in Funsi, Atuna, and Bensere East.
The MP states that GoldBod’s legal mandate is to buy, sell, refine, and export gold. He questions if geological investigations and the holding of mineral areas align with the Ghana Gold Board Act, 2025. The Act allows GoldBod to do geological work only with the Mines Ministry.
The MP noted that the public announcement mentioned only GoldBod and GGSA, without the Mines Ministry. He also questioned the plan to create “model mines,” stating that the concept is not in the Gold Board Act. The Act permits geological work to support small-scale miners.
A key concern is the reported release of 20 mineral areas to GoldBod by the Minerals Commission. Under the Minerals and Mining Act, 2006, only the Mines Minister can grant rights over mineral areas. The MP seeks clarity on the legal basis for GoldBod to hold these areas.
The MP has called for GoldBod and the Mines Minister to provide public answers. He wants to know if the Mines Ministry approved the deal, the legal basis for GoldBod to hold mineral rights, and the source of the GHS27.5 million. He emphasized the need for lawful and transparent management of Ghana’s mineral resources.
Source: StatsGH — Ghana's data-driven news platform