GoldBod to Purchase 30% of Large-Scale Gold Production from July 1
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Edited by: Solomon Kwabena Nana-Ansah – Paaps –
Accra, June 25, 2026 — The Government of Ghana, through the Ghana Gold Board (GoldBod), has signed a landmark agreement with the Ghana Chamber of Mines to purchase 30% of the gold output from all large-scale mining companies operating in the country, effective July 1, 2026.
The agreement, reached under the joint direction of the Minister for Finance and the Minister for Lands and Natural Resources, marks a significant shift from the 2022 arrangement between the Bank of Ghana and the Ghana Chamber of Mines.
Under the new framework, all participating large-scale mining companies will sell 30% of their gold production to GoldBod locally in Ghana in doré (raw) form at a discount of 0.55%. Payments for the purchases will be made in Ghana cedis using the Bank of Ghana Reference Rate.
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According to the government, the initiative is strategically designed to support Ghana’s ambition of securing London Bullion Market Association (LBMA) accreditation for at least one local gold refinery by 2030.
Gold acquired under the programme will be refined locally to enhance value addition within Ghana before being shipped to an LBMA-certified refinery for final melting and stamping. The refined gold will then be delivered to the Bank of Ghana to strengthen the country’s gold reserves.
The agreement forms part of the Ghana Accelerated National Reserve Accumulation Programme (GANRAP), which aims to build foreign reserves equivalent to 15 months of import cover by the end of 2028. It also aligns with President John Dramani Mahama’s vision of eliminating raw mineral exports by 2030 through increased local processing and value addition.
The Memorandum of Understanding (MoU) was signed by the Ministry of Finance, the Ministry of Lands and Natural Resources, the Ghana Gold Board, the Bank of Ghana, and the Ghana Chamber of Mines.
Government officials indicated that further details of the agreement will be published on Monday, July 29, 2026.
