The National Concerned Association of Small-Scale Miners, Ghana (NCSSMAG) has expressed strong support for the Mahama administration’s decision to establish a Gold Board aimed at regulating the trading of gold from small-scale miners.

In a press release issued by NCSSMAG President Michael Kwadwo Peprah, the association described the initiative as “long overdue” and commended the Sammy Gyamfi-led GOLDBOD Technical Committee for its transparent and broad consultative approach.

According to Peprah, the Gold Board will create a more structured and regulated market for gold trading, ensuring miners are paid fairly for their precious metals.

“This will help eliminate exploitation by foreign buyers who have traditionally dictated unfair prices, and in the process, optimize the economic benefits derived from small-scale mining.”
Michael Kwadwo Peprah, NCSSMAG President

The initiative, which the NCSSMAG views as a much-needed reform, promises to enhance fairness in pricing, eliminate exploitation by foreign buyers, and optimize national benefits from Ghana’s small-scale mining sector.

The Mahama government’s commitment to establishing a well-regulated gold trading framework has been a point of celebration for the NCSSMAG.

The association noted that the proposal is a step in the right direction, especially in terms of addressing longstanding challenges faced by small-scale miners.

“It is refreshing to see that the suggestion we have long advocated for—a well-structured gold trading sector—is finally being prioritized by the new Mahama government.”
Michael Kwadwo Peprah, NCSSMAG President

One of the most exciting components of the Gold Board initiative, according to the NCSSMAG, is the government’s plan to leverage the GOLDBOD to provide critical support to small-scale miners.

This support is envisioned to include geological investigations, concession viability assessments, equipment financing, sustainable environmental management, concessional financing, and other corporate social responsibility (CSR) projects targeted at mining communities.

The NCSSMAG described these proposed measures as “game-changers” that will significantly empower miners and promote sustainable practices within the sector.

Peprah further explained that small-scale miners in Ghana have been at a disadvantage for years due to inadequate government funding for the Precious Minerals Marketing Company (PMMC), which is legally allowed to purchase gold from them.

“The inadequacies of the PMMC, coupled with the inability of state agencies to effectively regulate the market, have led to substantial revenue losses for both miners and the country.”
Michael Kwadwo Peprah, NCSSMAG President

GOLD BOD to Strengthen the Ghanaian Economy

Beyond its potential to stabilize the mining sector, the NCSSMAG sees the GOLDBOD as a crucial tool in addressing the current economic challenges facing Ghana.

At a time when Ghana is facing serious economic challenges, the Gold Board could play a crucial role in stabilizing the national economy.

NCSSMAG emphasized that expediting the establishment of the Gold Board is not just in the interest of miners but also crucial for economic revitalization.

“At a time of economic crisis, the GOLDBOD is Ghana’s surest way of generating significant foreign exchange to stabilize the Ghana cedi for economic revitalization.”
Michael Kwadwo Peprah, NCSSMAG President

The association is calling on the government to expedite the establishment of the Gold Board, urging that the processes be prioritized as a matter of national urgency.

“We hope that this noble agenda will receive the backing of all stakeholders in the supreme interest of our dear nation.”
Michael Kwadwo Peprah, NCSSMAG President

The NCSSMAG’s support for the Gold Board proposal highlights a growing recognition of the need for reform in Ghana’s small-scale mining sector.

The creation of a regulated gold trading framework will address long-standing issues such as exploitation, unfair pricing, and inadequate government support for miners.

If fully implemented, the Gold Board has the potential to transform the sector, ensuring that small-scale miners receive fair compensation for their work and that the national economy benefits more from the vast gold reserves in the country.

As the Mahama government pushes forward with this initiative, it remains to be seen how quickly and effectively it can be established and operationalized. However, with the backing of key stakeholders such as the NCSSMAG, the prospects for success look promising.