In a major policy breakthrough, the Ghana Gold Board (GoldBod) has reached an agreement with nine large-scale mining companies to purchase 20% of their gold output locally. The move is aimed at boosting Ghana’s domestic gold reserves and reducing reliance on foreign currency for critical imports.
The initiative forms part of the government’s broader economic strategy, including the ongoing “Gold for Oil” and “Gold for Reserves” programmes. These are designed to stabilise the cedi and secure Ghana’s mineral wealth for national development.
Under the agreement, GoldBod will act as the official aggregator, collecting and managing the gold supplied by the companies for strategic national use. Officials say this is a significant step toward economic sovereignty and resilience.
The government has assured the mining companies of transparency, fair valuation, and timely payments under the new arrangement.
The deal is expected to boost investor confidence and affirm Ghana’s position as a global gold producer that is committed to retaining value from its natural resources.
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