The Ghana Gold Board (GoldBod) has announced record-breaking gold export figures for 2025, with small-scale exports hitting unprecedented levels and surpassing large-scale mining output.

The disclosure was made by the Chief Executive Officer of the GoldBod, Mr. Sammy Gyamfi, at the maiden edition of the Mining and Minerals Convention, held on Tuesday, 9th September 2025, at the Kempinski Gold Coast Hotel.

According to Mr. Gyamfi, reforms introduced since the establishment of the GoldBod have already begun to yield significant results.

“These preliminary measures have begun to pay off already, as they have led to record-high gold exports, both in volume and value, in this year.”
Mr. Sammy Gyamfi, Chief Executive Officer of the GoldBod

Mr. Gyamfi revealed that from January to August 2025, small-scale gold exports facilitated by the GoldBod in partnership with the Bank of Ghana amounted to 66.7 tonnes, valued at approximately $6 billion.

“What this means is that the volume and value of small-scale gold exports from January to August 2025 alone, have exceeded the total small-scale gold export outturn for the whole of 2024, which stood at 63 tonnes with a value of about $4.6 billion.”
Mr. Sammy Gyamfi, Chief Executive Officer of the GoldBod

Significantly, he noted that small-scale exports had overtaken large-scale production, which stood at 65.1 tonnes, worth about $5.6 billion over the same period.

This marks a striking shift in Ghana’s mining landscape, highlighting the growing dominance of small-scale mining when properly regulated and supported.

Reforms Driving the Turnaround

The GoldBod attributes this success to a raft of reforms implemented since its inception. These include aggressive licensing reforms aimed at promoting responsible sourcing, tighter regulatory controls over the gold supply chain, and the rollout of a transparent pricing system to benefit licensed miners and gold buyers.

Mr. Gyamfi emphasized that the board had also “deployed robust aggregation systems to effectively mop up gold from all mining regions and districts of the country” and eliminated key incentives for smuggling.

One notable intervention was the scrapping of the 1.5% withholding tax on unprocessed small-scale gold, a measure widely criticised in the past for driving miners towards illicit markets.

In addition, the board has intensified its clampdown on illegal gold trading and smuggling through the creation of a dedicated GoldBod Task Force, incentivised with rewards for whistleblowers.

“These initiatives are beginning to create a more transparent and competitive environment that encourages compliance, boosts revenue, and strengthens national reserves.”
Mr. Sammy Gyamfi, Chief Executive Officer of the GoldBod

A New Era for Small-Scale Mining

The figures reported by the GoldBod mark a historic turning point for Ghana’s mining sector. For decades, small-scale mining has been plagued by informality, environmental degradation, and revenue leakages.

However, with tighter oversight and improved incentives, the sector is emerging as a powerhouse, even outperforming large-scale operations in both volume and value.

Mr. Gyamfi underscored that this transformation is a testament to what targeted reforms can achieve.

“We are not just doing business as usual. We are positioning the GoldBod as a driver of transparency, accountability, and shared prosperity in Ghana’s mining industry.”
Mr. Sammy Gyamfi, Chief Executive Officer of the GoldBod

Looking ahead, the GoldBod is expected to expand its efforts to sustain the momentum. Stakeholders at the convention emphasized the need to consolidate these gains by scaling up community development programmes, improving environmental standards, and ensuring miners continue to benefit from fair pricing mechanisms.

As Ghana celebrates this record export levels, the challenge will be to maintain and build upon them without compromising sustainability. Industry leaders at the convention stressed the importance of balancing economic gains with environmental and social responsibility.

For the GoldBod, the focus remains clear creating a transparent and efficient system that ensures Ghana fully benefits from its mineral wealth.

With small-scale miners now leading the charge in export performance, the reforms appear to be setting the stage for a new era in Ghana’s mining story.