GoldBod recovers GH¢3 million in illegal gold trade purge

The Ghana GoldBod’s nationwide clampdown on illegal gold trading has resulted in the recovery of GH¢3,036,990.00 in cash, according to the agency’s third-quarter report for 2025.

The intensified operation also uncovered large amounts of foreign currency, including US dollars, CFA francs and Moroccan dirhams.

Officials seized several items tied to unregulated gold-trading networks, such as gold doré, gold dust, mercury, firearms, mobile phones and forged documents.

Investigations have also disclosed the involvement of foreign nationals from the United States, Morocco and Burkina Faso, raising concerns about cross-border participation in illegal mining and gold smuggling.

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GoldBod says it is examining whether some Tier 2 licence holders may have enabled or abused their permits to support unlicensed players.

The agency’s Legal Directorate is currently handling 20 active cases involving individuals and entities accused of operating without proper licences.

These include 10 cases still under investigation, six suspects granted bail, one suspect granted court bail and one case awaiting trial. One case remains under police enquiry, while another suspect has been deported.

The statutory report recorded progress in gold aggregation, exports, reserve buildup and regulatory work from July to September 2025.

GoldBod aggregated 26,153.98 kilograms of gold from the Artisanal and Small-Scale Mining sector, valued at US$2.76 billion, as part of efforts to formalise and strengthen the ASM value chain.

The Board also advanced Ghana’s reserve strategy by purchasing 119.78 kilograms of gold from large-scale mining firms for the Bank of Ghana. The acquisition, valued at US$11.82 million, supports the central bank’s drive to bolster the country’s gold-backed reserves.

Exports remained strong in the quarter. ASM operators exported 25,780.60kg of gold worth US$2.71 billion, while large-scale producers exported 24,911.21kg valued at US$2.43 billion.

On the regulatory front, GoldBod processed 577 licences under its new tiered system, introduced to tighten compliance and ease entry for legitimate operators. The approvals covered 432 Tier 2 licences, 123 Tier 1 licences and 22 authorisations for self-financed aggregators.

The Board also suspended two licences and revoked one, underscoring its commitment to cleaning up the gold-trading space and supporting responsible mining practices.

AK/SSM