Ghana’s small-scale gold mining industry exported 51.5 tonnes of gold valued at about US$5 billion in the first half of 2025, nearly double the 26.4 tonnes exported during the same period last year.
This milestone was highlighted by Finance Minister Dr. Cassiel Ato Forson during the presentation of the Mid-Year Fiscal Policy Review of the 2025 Budget Statement and Economic Policy in Accra.
The minister attributed the 100% rise in gold volume and 180% increase in export value to key reforms initiated by the newly established Gold Board (GOLDBOD), which aims to formalize and regulate small-scale mining operations.
For the first time in Ghana’s history, exports from small-scale miners have surpassed those of large-scale mining companies, marking a turning point in the country’s gold export dynamics.
Dr. Forson emphasized that these reforms have improved foreign exchange inflows, strengthened national reserves, and supported the local currency, the Ghana cedi.
He lamented how illegal gold trade and smuggling had previously denied the nation its rightful benefits, describing GOLDBOD’s role as correcting a long-standing economic imbalance.
GOLDBOD introduced changes in the licencing process and gold aggregation systems to better capture production from the artisanal sector, bringing once-informal activities into the official economy.
Ghana, the continent’s top gold producer, is now witnessing a structural shift, with small-scale miners playing a more prominent role in driving export revenues.
The government, Dr. Forson warned, will crack down hard on illegal gold traders and smugglers, calling such actions “nation-wrecking.”
He also reported a 306.6% increase in trade surplus to US$5.57 billion and a significant boost in investor confidence, with capital inflows rising to nearly US$938 million by June 2025.