The National Concerned Association of Small-Scale Miners, Ghana (NCSSMAG) has expressed strong support for the government’s initiative to establish a Goldbod aimed at regulating the purchase of gold from small-scale miners.
According to the association, this initiative will ensure fair pricing, eliminate exploitation by foreign buyers, and improve the economic viability of the small-scale mining sector.
In an interview with Adom News, the President, Michael Kwadwo Peprah, reiterated their commitment to policies that promote transparency and sustainability within the sector.
This comes after last year’s engagement with National Democratic Congress (NDC) flagbearer John Dramani Mahama, during which small-scale mining reforms were discussed and incorporated into the NDC manifesto.
Mahama, who is now President, assured miners that his administration would support them by implementing policies, including the establishment of a Goldbod to provide fair and stable gold pricing.
“Last year, we had meaningful discussions with President Mahama, and he assured us he would implement policies to support small-scale miners, including the creation of a GoldBoard that would guarantee fair and stable gold pricing. Today, we are seeing that promise fulfilled,” he said.
NCSSMAG has welcomed the proposal for the Gold Board, put forward by Sammy Gyamfi, Acting Managing Director of the Precious Minerals Marketing Company (PMMC).
The association views it as a significant step toward eliminating unfair trading practices that have long harmed local miners.
The concept of a structured gold purchasing framework was first discussed during a stakeholder meeting on June 11, 2024, attended by PMMC representatives. The meeting addressed the challenges small-scale miners face in selling gold at fair prices.
NCSSMAG revealed that foreign buyers, particularly Indian traders, have been purchasing gold at rates 10 to 15 percent below market value, forcing miners to accept unfavorable deals due to the absence of a regulated buying system.
Although the law allows the PMMC to purchase gold from small-scale miners, NCSSMAG pointed out that insufficient government funding has hindered the company’s ability to compete effectively in the market.
As a result, miners have had to rely on foreign buyers, leading to revenue losses for both the miners and the state.
The association has called on the government to allocate adequate resources to the proposed Goldbod to ensure a well-structured, transparent, and competitive gold market. Beyond fair pricing, NCSSMAG has also urged the government to invest in modern mining equipment to enhance productivity, stressing that inadequate machinery remains a major challenge for small-scale miners, reducing efficiency and stunting sector growth.
NCSSMAG reiterated its commitment to collaborating with all stakeholders to ensure a fair and sustainable environment for small-scale miners, expressing optimism that the establishment of the Goldbod will not only safeguard the interests of local miners but also contribute to the country’s economic growth.
“We believe in the leadership of Sammy Gyamfi and are confident that he will deliver on the promises of the Gold Board.
“This initiative is vital in addressing the challenges faced by small-scale miners and ensuring that they can operate in a transparent, competitive, and fair market,” he added.
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