Govt secures 30% of all large-scale gold output from July 1, GoldBod to buy doré at 0.55% discount in cedis.
The Government of Ghana has reached an agreement with the Ghana Chamber of Mines to acquire 30 per cent of the gold output from all large-scale mining companies operating in the country, effective July 1, 2026.
The agreement was facilitated through the Ghana Gold Board (GoldBod) under the joint supervision of the Ministry of Finance and the Ministry of Lands and Natural Resources as part of efforts to strengthen the country’s gold reserves and enhance value addition within the mining sector.
Under the new arrangement, large-scale mining companies will sell 30 per cent of their gold production to GoldBod in Ghana in doré (unrefined) form at a discount rate of 0.55 per cent. All transactions will be conducted in Ghana cedis using the Bank of Ghana Reference Rate.
The new framework replaces the previous 2022 agreement between the Bank of Ghana and the Ghana Chamber of Mines and is expected to provide a more structured and transparent mechanism for the state’s gold purchases.
According to the government, the initiative has been strategically designed to support Ghana’s ambition of securing London Bullion Market Association (LBMA) accreditation for at least one local gold refinery by 2030. Achieving this accreditation would enhance the country’s capacity to refine gold locally, improve access to international markets, and increase the value derived from its mineral resources.
The agreement also forms part of broader efforts to strengthen Ghana’s position in the global gold industry while promoting local beneficiation and sustainable economic growth.
