Sammy Gyamfi issues key update on the establishment of Ghana Gold Board

Finance Minister Dr Cassiel Ato Forson inaugurated a 21-member Technical Committee on Monday, 27th January, tasked with developing the legal and operational framework for the establishment of the Ghana Gold Board (GOLDBOD).

The GOLDBOD, a flagship initiative of President John Dramani Mahama, seeks to reform the small-scale mining sector by abolishing the Community Mining system, eliminating VAT on mineral exploration, and introducing regulatory policies to support the development of critical minerals.

The acting Managing Director of the Precious Minerals Marketing Company (PMMC), Sammy Gyamfi, oversees the establishment of GOLDBOD, which operates under the Finance Ministry's direction.

In a statement following the inauguration, Mr Gyamfi highlighted that the GOLDBOD would have exclusive legal rights to act as the sole assayer, seller, and exporter of gold purchased from small-scale miners.

He stated:

Streamlining the small-scale mining sector, curbing smuggling, and directing gold purchases through formal channels will help Ghana improve its foreign exchange accumulation and stabilise the Cedi. The establishment of the Ghana Gold Board is a critical tool for economic revitalisation and currency stability.

Committee Members Include:

1. Sammy Gyamfi Esq. – Acting Managing Director, PMMC

2. Marietta Agyeiwaa Brew – Legal Counsel to the President

3. Dr Abdul Baasit Aziz Bamba – Legal Practitioner

4. Dr Johnson Asiamah – Former Deputy Governor, Bank of Ghana

5. Dr Tony Aubyn – Former CEO, Minerals Commission

6. Joojo Kakra Bannerman – Head of Financial Markets, Standard Chartered Bank

7. Martin Kwaku Ayisi – CEO, Minerals Commission

8. Joseph Iroko – Legal, Minerals Commission

9. Eric Bukari – Manager, Small Scale Mining, Minerals Commission

10. Paul Elikplim Bleboo – Deputy Manager, Gold Desk, Bank of Ghana

11. Kwabena Agyemang Barning – Chief Technical Officer, MIIF

12. Ernest Asiedu Odami – Director, Corporate Planning, PMMC

13. Sharon Quaye – Head of Business Development, PMMC

14. Mohammed Abubakar – Director of Finance, PMMC

15. Bernard Samuel Nnan – Head of Field Operations, PMMC

16. Richard Kofi Afenu Esq. – Geologist, Mineral Economist, Finance, Private Legal Practitioner

17. Kwaku Effah Asuahene – Chairman, Chamber of Bullion Traders, Ghana

18. Godwin Nichelsen Armah – General Secretary, National Association of Small-Scale Miners

19. Roger Kwakye – Gold Trading Consultant

20. A Representative from the Ministry of Finance

21. A Representative from the Office of the Attorney-General

The committee is expected to ensure the Ghana Gold Board becomes operational by 8th March 2025.