ILLEGAL GOLD TRADE SHAKEN! Foreign Syndicates, Fake Docs & Firearms Uncovered in Massive Sweep.
The Ghana Gold Board’s nationwide crackdown on illegal gold trading in Q3 2025 recovered GH¢3,036,990 in cash, along with foreign currencies, gold doré, gold dust, mercury, firearms, phones, and forged documents. Investigations revealed involvement of foreign nationals from the US, Morocco, and Burkina Faso, and possible misuse of Tier 2 licences by some operators. GoldBod is pursuing 20 active cases, including investigations, bail proceedings, and trials. During the quarter, the Board aggregated 26,153.98 kg of gold from small-scale miners (US$2.76 billion) and bought 119.78 kg from large-scale firms for the Bank of Ghana (US$11.82 million) to boost reserves. Gold exports remained strong, with ASM operators shipping 25,780.60 kg (US$2.71 billion) and large-scale producers 24,911.21 kg (US$2.43 billion). Regulatory efforts included processing 577 licences—432 Tier 2, 123 Tier 1, and 22 self-financed aggregators—while suspending two and revoking one, reinforcing GoldBod’s push for responsible mining.
