Establishment of GoldBod brought in $2.7bn in four months - Mahama

President John Mahama announced the Ghana Gold Board (GoldBod) has improved gold trading. It has generated $2.7 billion since it began operations.

He stated that GoldBod enhances oversight in gold exports. This ensures Ghana benefits from its mineral resources.

At the Global Mining Summit in Accra, President Mahama called GoldBod a key initiative. It aims to maximize returns from Ghana’s mineral wealth.

“The GoldBod is part of my administration's strategy to reform gold mining,” he said. “It has already improved the sector and increased export returns.”

He expressed optimism about growth in gold export receipts this year.

“Ghana earned $2.7 billion from gold exports between January and April,” he noted. He expects this figure to rise significantly by year-end.

GoldBod plans to use the African Continental Free Trade Area for trade enhancement. This will boost intra-African trade of goods and minerals.

President Mahama emphasized the importance of using African resources for development.

“The world is changing, with rising demand for critical minerals,” he explained. “Ghana is ready to take a central role in this transition.”

He mentioned that policies and frameworks are being established for exploring critical minerals.