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Ghana plans gold board to increase earnings and curb smuggling

Ghana plans to launch a gold board to streamline gold purchases from small-scale miners, increase earnings, and reduce smuggling, said Finance Minister Cassiel Ato Forson on Monday.
The gold board will be launched in early March and will act as the sole buyer of gold through licensed aggregators and local traders.
Total gold exports for 2024 stood at $11.64 billion, a 53.2% year-on-year increase, helping nearly double Ghana's trade surplus to $4.98 billion, according to Ghana's central bank.
Forson stated that the fragmented system has led to widespread gold smuggling and deprived the state of much-needed foreign exchange.

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Reuters

+3 Reposted by 3 other sources

Ghana plans gold board to increase earnings and curb smuggling

Ghana plans to launch a Gold Board to streamline gold purchases from small-scale miners, increase earnings and reduce smuggling, the west African country's newly appointed finance minister Cassiel Ato Forson said on Monday.

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Business Live

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24 days ago

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Africa.com

Ghana to Launch Gold Board to Curb Smuggling and Boost Earnings

Accra plans to establish a Gold Board to regulate small-scale gold purchases, increase national earnings, and curb smuggling, Finance Minister Cassiel Ato Forson announced on Monday. The initiative aims to maximize the country’s benefits from gold sales and stabilize the national currency. In 2024, Ghana’s total gold exports reached $11.64 billion, a 53.2% increase from… Read More »Ghana to Launch Gold Board to Curb Smuggling and Boost Earnings

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Galiano Gold Issues Production Guidance With Midpoint Of 140,000 Ounces For 2025

Galiano Gold (TSX: GAU) is anticipating a large uptick in gold production over the next two years at its Asanko Gold Mine in West Africa. The improvement was announced this morning as part of a five year production outlook provided by the company. Production this year is slated to come in between 130,000 to 150,000 ounces of gold, which is a marked improvement from the 115,115 ounces of gold produced in 2024. All in sustaining costs meanwhile ar…

25 days ago

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