‘Adopt MineTrace Initiative In Gold Value Chain’

Kwadjo Bonsafo Barwuah, founder of MineTrace, has urged the Ghanaian government to adopt the MineTrace initiative to enhance transparency and boost revenue in the gold industry, particularly in the small-scale mining sector.

MineTrace is a cloud-based system that offers stakeholders a unified platform to monitor gold traceability, improving transparency across the value chain.

Speaking at the 2024 Gold Statement Conference in Accra, Barwuah highlighted the initiative's potential to reduce fragmentation in the gold industry, ensure stakeholders meet international standards and enhance tax compliance.

He emphasized its importance in fostering accountability and standardization before gold enters the global market.

The two-day event, themed “Promoting Ghana Gold Jewellery,” brought together industry players to discuss innovations and strategies to elevate Ghana’s jewelry and gemstone sectors.

Ghana produced 4.03 million ounces of gold in 2023, largely from small-scale mining.