Parliament has passed the Goldbod Bill 2025 into law to formalise and regulate small-scale mining in the country.
The bill, which establishes the Ghana Goldbod, is tasked with overseeing, monitoring, and regulating the buying, selling, and export of gold and other precious minerals in the country.
It also supports responsible mining practices and aims to build gold reserves within the Central Bank to generate revenue to stabilize the cedi.
The Goldbod will also regulate gold trading, enhance traceability, and work towards obtaining certification from the London Bullion Market Association (LBMA).
However, during the consideration of the bill, the Minority in Parliament who boycotted the voting process, expressed concerns that it could lead to an increase in illegal mining, known as “galamsey.” Despite their objections, the Majority Leader, Mahama Ayariga, praised the bill as a landmark piece of legislation.
The First Deputy Speaker of Parliament, Bernard Ahiafor, proceeded with the vote, with the Majority in support of the motion.
“Honourable members, as many as are in favour of the motion, say ‘Aye’… Those against, say ‘No,'” he stated.
After the voice vote, he declared, “The Ayes have it, the motion is accordingly adopted.”
President John Dramani Mahama, as part of his efforts to revitalize the economy, initiated the creation of the Ghana Goldbod. The board is a key promise in the National Democratic Congress (NDC) 2024 manifesto, aimed at regulating and marketing the country’s gold resources for national benefit.
By: Ekow Annan/newsalertgh.com
