GoldBod to roll out gold traceability system this year – Sammy Gyamfi
The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, says Ghana is set to begin implementing a national gold traceability system this year to track gold purchased from small-scale miners.
Ghana's Ghana Gold Board (GoldBod) CEO, Sammy Gyamfi, announced that the country is set to implement a national gold traceability system this year. The move aims to track gold purchased from small-scale miners and improve responsible mining practices. Gyamfi explained that GoldBod currently cannot determine the percentage of gold it purchases that is responsibly mined due to the absence of a formal traceability system.
Ghanaian gold mining has not seen a formal traceability system until now. GoldBod is currently involved in a national competitive tendering process to acquire traceability technology, with 17 companies shortlisted after a technical evaluation. The process is expected to conclude within the year, and the system will enable GoldBod to trace every gram of gold from its point of origin.
The traceability system will also verify whether the source is licensed, the production method, mercury usage, and child labor involvement. The ultimate goal is to formalize gold production and comply with international responsible-sourcing standards, potentially allowing Ghana's small-scale mining supply chain to access premium international markets, including the London Bullion Market Association (LBMA), and secure better prices for the country's gold.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
