Small-scale gold exports hit record US$6.3 billion in 8 months, surpass 2024 total
Ghana’s artisanal and small-scale mining (ASM) gold exports reached 66.7 tonnes (valued at about US$6.3 billion) between January and August 2025, already higher than the total ASM exports for the whole of 2024, the Chief Executive Officer of the Ghana Gold Board (GoldBod), Mr Sammy Gyamfi, has disclosed.
Speaking at the Mining and Minerals Convention in Accra on Tuesday, September 9, 2025, Mr Gyamfi said the performance reflected major changes in the gold trade system.
“From January to the end of August 2025, small-scale gold exports undertaken by or through the Gold Board, working with the Bank of Ghana, recorded 66.7 tonnes, with an export value of about US$6.3 billion,” he stated.
He explained that this figure exceeded the 63 tonnes exported in the 2024 calendar year, which brought in about US$4.6 billion. “This means that the volume and value of small-scale gold exports for the first eight months of 2025 alone have surpassed the entire export figure for 2024,” he said.
Mr Gyamfi noted that ASM exports were also overtaking large-scale gold production. “Small-scale gold exports continue to surpass those from the large-scale mining sector, which recorded 65.1 tonnes with an estimated value of about US$5.6 billion between January and August 2025,” he told the convention.
He attributed the growth to reforms aimed at cleaning up and improving the gold trade. These included licensing reforms, tighter regulatory oversight, transparent pricing, improved gold aggregation systems, and the removal of the 1.5 per cent withholding tax on unprocessed small-scale gold.
“These early measures have already started to yield results, leading to record-high gold exports this year, both in volume and value,” he said.
The CEO added that foreign exchange inflows from ASM exports had strengthened Ghana’s reserves, supported the cedi, and improved the balance of payments.
He also spoke about ongoing efforts to promote responsible sourcing. He said that, following the directive of President John Dramani Mahama, the Gold Board would roll out a nationwide traceability system before the end of the year to verify the origin of every gramme of gold sold.
“Every gramme of gold will be traceable to its licensed and environmentally compliant mine of origin,” he said.
On the fight against illegal mining, Mr Gyamfi announced that the Gold Board would provide five Toyota Hilux pickups and GH¢5 million to support the National Anti-Illegal Mining Operations Secretariat (NAIMOS).
He further disclosed that from November this year, the Board would support the reclamation of 1,000 hectares of degraded forest reserves. A Corporate Social Responsibility policy would also begin in October to provide potable water, schools, health facilities, and scholarships for brilliant but needy students in mining communities.
Mr Gyamfi said these interventions were intended to maximise national gains from gold while safeguarding the environment and supporting local communities. “This is the strategic role of the Ghana Gold Board in Ghana’s long-term development,” he added.
