Ghana Secures Deal With Nine Mining Companies For 20% of Their Gold Export

Ghana, through its Gold Board (GoldBod), has secured a deal with nine mining companies to buy 20% of their Gold exports for the country in a bid to boost the Bank of Ghana’s Gold and foreign currency reserves.

The companies involved are: Golden Team Mining Company Limited, Akroma Gold Limited, Adamus Resources Limited, Cardinal Namdini Mining Limited, Goldstone Akrokeri Limited, Earl International Group (GH) Limited, Xtra Gold Mining Limited, Prestea Sankofa Gold Limited, and Gan He Mining Resource Development Limited.

Terms of Agreement

Under the agreement, the mining companies would deliver 20% of any Gold they want to export out of Ghana to the GoldBod in the form of Dore bars at the Assay Laboratory of the GoldBod at the Kotoka International Airport.

The currency for all transactions under this agreement shall be Ghana cedis, while the rate of exchange shall be the Daily Interbank FX (Weighted Median) Rate published by the Bank of Ghana.

The Ag. Chief Executive Officer of the GoldBod, Mr. Sammy Gyamfi Esq., thanked the companies and the Chamber of Mines for their cooperation and commitment to the vision of Ghanaian President, H.E. John Mahama aimed at optimizing national benefits from the gold resources of the country.

A written Agreement to formalize this arrangement would be signed on 15th of May, 2025, to pave way for the commencement of the program effective 1st June 2025.