Small-scale gold exports hit $5bn, surpass large mines
Ghana’s artisanal and small-scale mining (ASM) sector has, for the first time, overtaken large-scale mining in gold export value, generating an unprecedented USD5 billion in 2025 alone, President John Dramani Mahama has revealed.
Speaking at the inauguration of the Gold Board Security Task Force in Accra on July 8, 2025, the President called the milestone “a landmark in Ghana’s mining history,” crediting reform efforts led by the Ghana Gold Board (GOLDBOD).
“Since its interim formation in January 2025, the Ghana Gold Board has implemented aggressive reforms, especially in the artisanal and small-scale mining sector. By May alone, GOLDBOD exported 11 tonnes of gold valued at USD 1.1 billion. Cumulatively, exports from the small-scale sector reached 51.5 tonnes, valued at approximately USD 5 billion,” the President said.
He confirmed that this represents a 95 percent increase over the same period in 2024 and marks the first time small-scale exports have surpassed large-scale output.
President Mahama emphasized that formalizing the ASM sector, historically informal despite its contribution to gold production, was a game changer.
“These inflows have strengthened our foreign reserves, improved our balance of payments, and helped stabilize the cedi. More importantly, they reaffirm our belief that artisanal miners, when supported and formalized, can be powerful allies of development,” he noted.
The Gold Board Security Task Force is a multi-agency unit tasked with protecting the integrity of the formalized gold export system. The task force includes the Ghana Police Service, Minerals Commission, and other regulatory bodies, aiming to enforce traceability standards and crack down on smuggling.
He indicated: “This Task Force is critical to ensuring that the gains made under GOLDBOD’s reforms are not undermined. We are building a gold ecosystem where value is retained, processes are transparent, and Ghanaian interests come first.”
President Mahama further noted that the Ghana Gold Board’s efforts are central to the larger economic transformation agenda, which includes boosting forex earnings, increasing local stakeholding in mining, and driving job creation through value-chain formalization.
“This is not just a gold story, it’s a Ghana story. We are showing that with the right systems, our own people can lead in value creation, export earnings, and economic transformation,” he emphasized.
President Mahama also called for continued vigilance and institutional cooperation to solidify gains and guide the gold sector toward responsible development.
