• About
  • Advertise
  • Privacy Policy
  • Contact
Tuesday, August 18, 2026
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result
in Extractives/Energy, Sub Top Stories, Sub Top Stories1

Mining Communities Must Be Treated as Economic Shareholders – GoldBod CEO Gyamfi

Bless Banir Yarayeby Bless Banir Yaraye
August 18, 2026
Reading Time: 5 mins read
Add as Preferred on Google
Lawyer Sammy Gyamfi, Gold Board CEO

Lawyer Sammy Gyamfi, Gold Board CEO

The Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, has asserted that host mining communities across the country must no longer be treated as passive land donors, but rather as critical development partners and economic shareholders in the nation’s mineral resources.

Speaking at the National Mining Dialogue conference held in Accra, Gyamfi declared that the traditional social license to operate requires an urgent paradigm shift from a mere industry slogan into a binding political, moral, and economic compact.

He noted that natural resources represent a divine gift intended to uplift the livelihoods of local populations, warning that failure to convert these extraction activities into tangible local development represents a fundamental breakdown in managing Ghana’s strategic wealth.

“The social justice to operate is built not only on legal authority but on the confidence that mineral wealth serves both the national interest and host communities. We cannot continue to mine gold from the soil of our communities while poverty, lack of access to potable water, poor roads, youth unemployment, and weak local economies remain the daily reality of too many mining communities in our country. This is the reason why the visionary John Dramani Mahama established the Ghana Gold Board.”

Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi,
Sammy Gyamfi, Esq., Chief Executive Officer of the Ghana Gold Board
Sammy Gyamfi, Esq., Chief Executive Officer of the Ghana Gold Board

Expanding on this position, the Gold Board CEO emphasized that true legal authority to mine must be accompanied by deep-rooted local confidence that mineral extraction serves both host communities and the broader national interest.

ADVERTISEMENT

 He decried the lingering paradox in historical mining enclaves, where substantial quantities of gold are systematically extracted while host populations continue to endure severe deprivations, including inadequate road infrastructure, lack of access to potable water, systemic youth unemployment, and stagnant local economies.

To rectify these systemic inequities, Sammy Gyamfi highlighted the visionary establishment of the Ghana Gold Board by former President John Dramani Mahama.

This institution was explicitly crafted to pioneer a transformative management approach one that retains greater resource value locally, strengthens national gold reserves, fosters responsible downstream industries, and formalizes artisanal and small-scale mining to turn extractive wealth into sustainable economic transformation.

The Imperative for a Reimagined Social License

The call to overhaul the operational dynamic between mining conglomerates and host regions stems from decades of socio-economic friction across resource-rich corridors.

For generations, traditional extraction models prioritized state revenue export and corporate dividends, while leaving host enclaves to grapple with environmental degradation and economic dislocation.

ADVERTISEMENT
WhatsApp Image 2025 11 24 at 06.50.44 655da22b
Mr. Sammy Gyamfi, Gold Board CEO

Modern resource governance demands that the social license to operate evolves beyond superficial corporate social responsibility (CSR) projects such as building isolated community centers into structural equity participation.

 When local populations are excluded from the financial value chain of the minerals extracted directly beneath their soil, the social contract breaks down, fueling hostility, illegal operations, and civic agitation.

 Establishing host communities as primary economic shareholders aligns extractive operations with modern international sustainability standards, ensuring that wealth creation directly mitigates local poverty while stimulating surrounding commercial ecosystems.

ADVERTISEMENT

Integrating Youth as Key Development Partners

Central to this structural reform is addressing the acute economic disillusionment experienced by young people within host regions.

In many extraction zones, local youth watch millions of dollars in mineral wealth transported out of their communities daily, yet find themselves shut out from meaningful employment, skills acquisition, or business ownership opportunities.

WhatsApp Image 2025 11 20 at 16.30.29 87d2cb3a
Lawyer Sammy Gyamfi, Gold Board CEO

As Sammy Gyamfi forcefully argued during his address, viewing young residents merely as “casual laborers and bystanders” or writing them off as “troublesome agitators and security risks“ creates an untenable and dangerous dynamic.

Reimagining the social license requires establishing a dedicated youth development compact that actively integrates young people into the formal mining value chain through technical capacity building, support for local procurement enterprises, and opening secondary service markets around production sites.

 Giving local youth a tangible stake in resource management transforms potential social volatility into productive economic participation.

Institutional Reforms for Local Value Retention

Achieving this equitable distribution of resource wealth requires robust regulatory frameworks and dedicated state bodies focused on localized value creation.

 The establishment of specialized institutions like the Ghana Gold Board signals a deliberate shift away from raw material export toward comprehensive value addition and sector formalization.

By formalizing artisanal and small-scale mining (ASM), regulatory authorities can convert informal, often hazardous, extraction practices into structured, environmentally responsible local enterprise.

Goldbod CEO, Sammy Gyamfi with BoG Governor, Johnson Asiama
Goldbod CEO, Sammy Gyamfi with BoG Governor, Johnson Asiama

 Furthermore, retaining a higher percentage of refined gold within national reserves and expanding domestic processing capacity ensures that downstream benefits such as precious metal refining, jewelry manufacturing, and financial services remain within the domestic economy.

Ultimately, treating mining communities as legitimate custodians and shareholders guarantees that Ghana’s mineral endowments yield long-term, multi-generational prosperity well beyond the lifecycle of individual mining concessions.

READ ALSO: Ghana Launches E-Visa Portal to Boost Trade, Tourism and AfCFTA

ADVERTISEMENT

Sign Up to Our Newsletter

Fresh updates, Straight to your inbox

Tags: asserted that host mining communitiesChief Executive Officereconomic shareholdersf the Ghana Gold Boardrather as critical development partnersSammy Gyamfithe country must no longerthe nation’s mineral resourcestreated as passive land donors
Please login to join discussion
Previous Post

NaCCA Clarifies Its Role in Curriculum, and Textbook Approval

Next Post

GIPA and GUTA Forge Joint Roadmap to Shield Ghana’s Retail Sector

Related Posts

The Minority Caucus
Extractives/Energy

Minority Calls For Parliamentary Probe Into GoldBod Dealings

August 18, 2026
Stable energy
Extractives/Energy

Ghana’s Electricity Access Gains Still Hide A Rural Gap

August 18, 2026
Hon. Alhaji Yusif Sulemana
Extractives/Energy

Deputy Lands Minister Calls for Catchment Compacts To Protect Mining Communities

August 18, 2026
Different energy mix
Extractives/Energy

Ghana’s Power Mix Moves Away From Hydro

August 18, 2026
ADVERTISEMENT

Sign Up to Our Newsletter

Fresh updates, Straight to your inbox

ADVERTISEMENT

Recent News

BoG Launches Powerful Council for Non-Interest Finance

BoG Launches Powerful Council for Non-Interest Finance

August 18, 2026
The Minority Caucus

Minority Calls For Parliamentary Probe Into GoldBod Dealings

August 18, 2026
Chief Executive Officer of the Ghana Gold Board (Goldbod), Sammy Gyamfi

Goldbod Unveils ASM Formalisation Drive, Speed Boats to Fight Galamsey

August 18, 2026
Boakye Agyarko

NPP Shall Rise Again, Agyarko Declares 2028 Victory

August 18, 2026
large card organization.jpg

Judges Clear Way for Deportations of African TPS Holders

August 18, 2026
ADVERTISEMENT
Next Post
IMG 4687

GIPA and GUTA Forge Joint Roadmap to Shield Ghana’s Retail Sector

The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.