Sammy Gyamfi, CEO of GoldBod, has revealed that between February and May 2025, the company (formerly PMMC) independently bought and exported gold worth GHS 40 billion (about $4 billion USD) from Ghana’s Artisanal and Small-scale Mining (ASM) sector on behalf of the Bank of Ghana.

He noted that this marks the first time in Ghana’s history that ASM gold exports have surpassed those from large-scale mining operations.

Indeed, from January to May 2025, the total gross weight of ASM gold shipped by or through the PMMC, now known as GoldBod, was 41.5 tons.

This, combined with the government's prudent monetary and fiscal policies, has significantly increased forex liquidity in the market and accelerated foreign reserve accumulation, resulting in a sustained appreciation of the national currency and improved living conditions for our people.


Sammy Gyamfi, speaking at the official opening of the Mining in Motion Summit in Accra on Monday, 2 June, stated that GoldBod has tightened regulatory controls, launched a ruthless fight against gold smuggling, and deployed effective aggregation systems across the country, which have helped to capture more than 90% of all ASM gold.

These efforts have contributed to this year's record gold purchases and exports, he said.

"In the just ended month of May 2025 alone, gold purchases and exports by the GoldBod from the artisanal small-scale sector hit a record high of 11 tonnes with an export value of a staggering $1.172 billion United States dollars," Mr. Gyamfi disclosed.

He went on to say that the data reveals the enormous potential of the artisanal small-scale mining sector for our economy and the overall well-being of our beloved country if properly tapped. As the President remarked at yesterday's summit, "artisanal miners are not enemies of the state; when properly trained and supported, they can be allies of development."

"The GoldBod is dedicated to unlocking the full potential of the Artisanal Small-scale Mining industry by promoting sustainable artisanal mining and responsible sourcing among all gold traders in the sector.

"To strengthen regulatory oversight and promote responsible sourcing and traceability, the GoldBod has begun the licensing of all players in the Gold trading sector of the country," according to him.

He continued, "Our license types include aggregate licenses, buying licenses, refining licenses, smelting licenses, transportation licenses, and export partnership licenses, among others.

"The GoldBod's licensees are subject to a strong code of responsible sourcing and constant due diligence, which is enforced in collaboration with the Bank of Ghana and the Financial Intelligence Center in accordance with our anti-money laundering and counter-terrorism financing regulations.

"As you may be aware, the GoldBod Act prohibits foreigners from making direct gold purchases on the local market." Foreigners, on the other hand, are welcome and encouraged to apply directly to the GoldBod to buy or sell gold from it. Foreigners may also work with Ghanaian applicants for a self-financing aggregation license from the GoldBod. Foreigners may seek for a license from the GoldBod to construct refineries, jewelry manufacturers, and other types of value-added enterprises."