The Goldbod Technical Committee, led by the Acting Managing Director of the Precious Minerals Marketing Company (PMMC), Sammy Gyamfi Esq., held a productive stakeholder engagement to gather insights on the legal framework for the soon-to-be-established Ghana Gold Board (Goldbod).
The meeting brought together key stakeholders from across the gold industry including the leadership of the National Association of Small-Scale Miners (NASSM), the Concerned Small-Scale Miners Association, the Chamber of Mines, the Chamber of Bullion Traders, the Jewellers and Gold Dealers Association, and various Civil Society Organizations (CSOs) in the extractive sector.
Each group brought a wealth of experience and expertise, ensuring that the consultation covered a broad spectrum of perspectives on the future of gold mining in Ghana.
Sammy Gyamfi, leading the engagement, emphasized the importance of stakeholder collaboration in ensuring that the new Ghana Gold Board would address these issues effectively.
“We are committed to building an institution that will be fit for purpose, one that aligns with the aspirations of all stakeholders while strengthening Ghana’s position in the global gold market.”
Sammy Gyamfi Esq. Acting Managing Director of the Precious Minerals Marketing Company (PMMC)
The Acting Managing Director further noted that the consultation was just the beginning of a process that would require continuous input from all interested parties to craft a robust and inclusive legal framework.
Sammy Gyamfi emphasized that the committee is committed to creating an institution that not only regulates but also supports the growth of Ghana’s gold industry.
He highlighted the need for robust legal frameworks, capacity building, and collaborative partnerships to achieve this goal.
The establishment of the Goldbod is a response to the growing need for a well-structured and regulated framework to manage the gold industry in Ghana.
The country is one of the world’s leading gold producers, yet its gold sector faces numerous challenges, including issues related to illegal mining, poor local content integration, regulatory inefficiencies, and limited value addition within the industry.
Key Reforms Raised During the Engagement
One of the critical voices at the consultation was Dr. Steve Manteaw, Policy Analyst and Campaigns Coordinator at the Integrated Social Development Centre (ISODEC).
Dr. Manteaw provided a candid analysis of the draft Goldbod Bill, highlighting potential regulatory overlaps that could pose challenges if not addressed.
“My cursory analysis of the draft Goldbod bill reveals some potential regulatory conflicts or overlaps with the Minerals Commission’s mandate that must be looked at.”
Dr. Steve Manteaw, Policy Analyst and Campaigns Coordinator at the Integrated Social Development Centre (ISODEC)
He explained that while the establishment of the Goldbod is a progressive step, there is a need to clearly define its role to avoid duplication of functions currently under the Minerals Commission, especially concerning local content regulation.
Currently, the Minerals Commission has the mandate to oversee both linkages, with a greater emphasis on the input side.
Dr. Manteaw suggested that to streamline the regulatory framework, Act 703 of 2006 (Minerals and Mining Act) would need to be amended to prevent overlapping responsibilities between the Minerals Commission and the proposed Goldbod.
Despite the concerns raised, stakeholders appreciated the openness and willingness of the Goldbod Technical Committee to listen and accommodate dissenting views. Dr. Manteaw praised the committee’s approach:
“The good thing about the consultation is that those leading the process appear to be genuinely open and responsive to the concerns of stakeholders.
“I urge all to take interest and provide feedback to enhance these efforts, ensuring that Ghana’s gold benefits Ghanaians.”
Dr. Steve Manteaw, Policy Analyst and Campaigns Coordinator at the Integrated Social Development Centre (ISODEC)
This sentiment was echoed by representatives from small-scale mining associations and CSOs, who emphasized the importance of continuous dialogue to address the evolving needs of the gold industry.
The establishment of the Ghana Gold Board (Goldbod) represents a significant milestone in the evolution of Ghana’s gold industry.
The stakeholder engagement session led by the Goldbod Technical Committee reflects a commitment to inclusive policymaking, where the voices of miners, traders, CSOs, and industry experts are heard and valued.
As the process unfolds, continuous dialogue, legal reforms, and regulatory clarity will be key to ensuring that the Goldbod becomes a transformative institution that enhances Ghana’s position as a leading gold producer while ensuring that the benefits of the industry are shared equitably among its citizens.
Stakeholders are encouraged to remain actively involved, providing feedback and recommendations that will shape the future of Ghana’s gold sector for generations to come.
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