In a significant move to sanitize the gold trading industry, President Mahama has announced that the Ghana Gold Board (GoldBod) will soon roll out a track and trace system to ensure the responsible sourcing of gold.
The President made this known at the ongoing Mining in Motion conference at Kempeski Hotel in Accra on Monday, June 2, 2025.
According to President Mahama, the track and trace system will enable GoldBod to monitor the origin and movement of gold, thereby preventing the entry of illicitly mined gold into the formal market. This development is part of GoldBod’s broader strategy to promote transparency and accountability in the mining sector.
The Ghana Gold Board is also working towards acquiring LBMA (London Bullion Market Association) certification, a prestigious recognition that requires refiners to meet stringent criteria. These include demonstrating financial soundness, maintaining a proven analytical lab, and committing to responsible sourcing practices. Additionally, GoldBod must establish production capacity, demonstrate market experience, and undergo regular audits.
President Mahama emphasized that the implementation of the track and trace system and the pursuit of LBMA certification underscore GoldBod’s commitment to sustainable mining practices and its determination to further sanitize the gold trading industry in Ghana.
In a related development, the CEO of GoldBod, Sammy Gyamfi, is scheduled to deliver a speech on June 3, 2025, where he is expected to elaborate on the board’s plans to track excavators and ensure they are used for legal and responsible mining. This move is seen as a crucial step in preventing the misuse of excavators in illicit mining activities.
The Ghana Gold Board’s efforts to promote responsible mining practices and sanitize the gold trading industry have been welcomed by stakeholders in the mining sector.
The implementation of the track and trace system and the pursuit of LBMA certification are expected to enhance the reputation of Ghana’s gold industry and promote sustainable economic development.