Government moves to establish state-owned gold mining company – GoldBod CEO

Ghana's government is taking steps to establish a state-owned gold mining company as part of increasing state involvement in the country's gold industry, according to Sammy Gyamfi, CEO of the Ghana Gold Board (GoldBod). The initiative will begin with extensive exploration to identify areas rich in commercially viable gold deposits.

Gyamfi revealed that GoldBod is collaborating with the Ghana Geological Survey Authority to conduct geological surveys across selected regions of Ghana. The purpose of this endeavor is to gather essential geological data required to pinpoint locations where the state can establish and operate its own mines. Upon identifying viable deposits, the government will proceed with the necessary procedures to create the state-owned mining company.

Currently, exploration efforts are underway in Binsre, located in the Amansie area, where the government is evaluating the gold potential of the region. This initiative aligns with broader objectives to maximize economic value from Ghana's mineral resources by increasing direct state participation in the gold mining value chain.

The future state-owned mining company would provide the government with a more direct role in gold production, potentially generating additional employment opportunities, local value addition, and revenue for the nation. Gyamfi emphasized that the ongoing exploration would help ascertain the commercial viability of prospective mining sites before the government invests in large-scale operations.