Committee to draft Ghana Gold Board Bill inaugurated

The Minister of Finance, Dr. Cassiel Ato Baah Forson, on Monday inaugurated a 19-member Technical Committee to develop the legal framework for the establishment of the Ghana Gold Board (GoldBod).
The Committee has been tasked with drafting the Ghana Gold Board Bill, which will formalize the Board’s establishment and streamline operations in the gold sector, with a focus on the legal small-scale mining industry.
The Gold Board is set to commence official business by March 8, 2025, following the completion of the Bill.

Gold Board to enhance sector operations
Dr. Forson explained that the Gold Board would play a critical role in achieving currency stability by managing Ghana’s gold resources in a structured manner.
“The Board will act as the sole buyer of gold from the legal small-scale mining sector, working through licensed aggregators and local traders,” Dr. Forson said.
He added that the Board would also assume exclusive rights as the sole assayer, seller, and exporter of gold from small-scale miners, without interfering with the Minerals Commission’s regulatory mandate.

Key objectives of the Ghana Gold Board
“The key objectives of the Ghana Gold Board will be to formalise the trading of gold from the small-scale mining sector, promote traceability, and pursue London Bullion Market Association, otherwise known as LBMA certification, in the shortest possible time,” Dr Forson added.
The Minister charged the Committee to “work around the clock” to achieve the key deliverables set out in the terms of reference.
Minister’s Charge and Stakeholder Support
Dr. Forson urged the Committee to work diligently to meet its deliverables within the set timelines.
Committee member Sammy Gyamfi assured the Minister of their readiness to deliver, emphasizing the expertise and experience of the team.
“We will adopt a consultative approach and appeal to all stakeholders to cooperate with the team to achieve its mandate,” he said.

Madam Marietta Brew, a legal expert on the Committee, expressed optimism that the Gold Board would address long-standing lapses in the sector, enhancing its contribution to Ghana’s economy.
A step towards sector transformation
The establishment of the Ghana Gold Board marks a significant step in formalizing and optimizing Ghana’s gold sector.
With the combined efforts of the Committee and stakeholders, the initiative promises to bolster the economic potential of small-scale gold mining while ensuring sustainable and traceable practices.

39. The membership of the committee includes:
* Sammy Gyamfi Esq. – Acting Managing Director, PMMC
* Marriettta Agyeiwaa Brew – Legal Counsel to the President
* Dr. Abdul Baasit Aziz Bamba – Legal Practitioner
* Dr. Johnson Asiamah – Former Deputy Governor, Bank of Ghana
* Dr. Tony Aubyn – Former CEO, Minerals Commission
* Joojo Kakra Bannerman – Head of Financial Markets, Standard Chartered Bank
* Martin Kwaku Ayisi – CEO, Minerals Commission
* Joseph Iroko – Legal, Minerals Commission
* Eric Bukari – Manager, Small Scale Mining, Minerals Commission
* Paul Elikplim Bleboo – Deputy Manager, Gold Desk, Bank of Ghana
* Kwabena Agyemang Barning – Chief Technical Officer, MIIF
* Mr. Ernest Asiedu Odami – Director, Corporate Planning, PMMC
* Sharon Quaye – Head of Business Development, PMMC
* Mohammed Abubakar – Director of Finance, PMMC
* Bernard Samuel nnan – Head of Field Operations, PMMC
* Richard Kofi Afenu Esq. – Geologist, Mineral Economist, Finance, Private Legal Practitioner
* Mr. Kwaku Effah Asuahene – Chairman, Chamber of Bullion Traders, Ghana
* Godwin Nichelsen Armah – General Secretary, National Association of Small-Scale Miners
* Roger Kwakye – Gold Trading Consultant
* A Representative from the Ministry of Finance
* A Representative from the Office of the Attorney-General
40. The timelines for the committee’s work shall be as follows; (Refer to timelines attached).