GoldBod CEO Sammy Gyamfi has disclosed that from February to May 2025, the company—formerly known as the Precious Minerals Marketing Company (PMMC)—has purchased and exported GHS40 billion worth of gold from Ghana’s Artisanal Small-scale Mining (ASM) sector on behalf of the Bank of Ghana (BoG). This translates to an export value of approximately $4 billion USD.
Speaking at the Mining in Motion Summit held in Accra on Monday, June 2, 2025, Mr. Gyamfi noted that, for the first time in the nation’s history, gold exports from the ASM sector have exceeded those from the large-scale mining sector. Between January and May 2025, the total gross weight of ASM gold exported by or through GoldBod reached a remarkable 41.5 tonnes.
According to Mr. Gyamfi, this milestone has significantly improved foreign exchange liquidity and strengthened Ghana’s foreign reserves, which in turn has contributed to the appreciation of the Ghanaian cedi and enhanced the living conditions of Ghanaians.
“In May 2025 alone, GoldBod exported 11 tonnes of gold, valued at $1.172 billion USD—a new monthly record,” he revealed.
Sammy Gyamfi attributed the record-breaking performance to GoldBod’s enhanced regulatory systems, a nationwide aggregation strategy, and an aggressive crackdown on gold smuggling. The company now mops up over 90% of all ASM gold, a feat made possible by these reforms. He emphasized the massive potential of Ghana’s ASM sector to contribute to national development if properly regulated and supported:
“As the President said at this summit, artisanal miners are not enemies of the state. When trained and empowered, they are allies of development.”
GoldBod is also leading efforts to professionalize and regulate the gold trading ecosystem. The company has begun licensing all gold sector players, with categories including: Aggregation License, Buying License, Refining License, Smelting License, Transportation License and Export Partnership License.
All licensees must adhere to strict responsible sourcing standards and are subject to ongoing due diligence. GoldBod works closely with the Bank of Ghana and the Financial Intelligence Center to ensure compliance with Anti-Money Laundering (AML) and Counter Terrorism Financing (CTF) policies.
Mr. Gyamfi clarified that foreigners are barred from directly purchasing gold in the local market under the GoldBod Act. However, they can: Apply to GoldBod to offtake gold directly, Partner with Ghanaian license holders, Establish refineries, jewelry factories, and other value addition enterprises.
GoldBod’s efforts reflect a broader national strategy to harness the ASM sector for sustainable growth, improve accountability, and maximize Ghana’s gold revenues for development.