Ghana has unveiled sweeping reforms aimed at channeling approximately 127 tonnes of artisanal and small-scale gold production per year into official trade channels, as authorities move to boost foreign exchange earnings and clamp down on smuggling, according to Reuters.
Finance Minister Cassiel Ato Forson told Parliament that under the new framework, the Ghana Gold Board will purchase at least 2.45 tonnes of artisanal gold weekly, consolidating output from small-scale miners into a formal marketing and export structure. The initiative is designed to significantly increase official gold exports and strengthen Ghana’s foreign reserve position.
The reforms follow a surge in artisanal mining activity amid elevated global gold prices. By formalising purchases, introducing structured offtake agreements, and deploying price-risk management tools such as hedging, authorities aim to stabilise revenues and ensure greater transparency across the supply chain, MarketScreener reported.
Officials estimate that billions of dollars have been lost in recent years due to informal trading and illicit exports. By tightening oversight and expanding traceability systems, the government hopes to retain more value within the domestic economy while reinforcing Ghana’s position as Africa’s leading gold producer.
