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By Edward Graham Sebbie
The Ghana Gold Board (GoldBod) has introduced a special temporary bonus of GHS 832 per pound of gold for licensed miners across the country. The initiative is aimed at motivating local producers, combating gold smuggling, and supporting licensed miners who have contributed to Ghana’s increased gold output and foreign exchange earnings.
The new selling price now stands at GHS 9,700 per pound, up from GHS 8,868.
The objectives of GoldBod are to ensure that licensed miners benefit from the local gold market despite the recent appreciation of the Ghana cedi.
The cedi’s appreciation has significantly reduced the local price of gold, prompting complaints from licensed miners. The special bonus is a response to these concerns, ensuring that miners do not incur losses as a result of currency fluctuations.
The initiative is also expected to make the local market more attractive for legitimate miners, reducing the incentive for gold smuggling while further supporting miners who have contributed to Ghana’s economic growth.
GoldBod remains committed to regulating the local gold market, providing assay services, and overseeing the purchase and export of gold. This initiative highlights the Board’s determination to support licensed miners and promote the sustainable growth of the sector.
