Rising GoldBod purchases does not mean smuggling has ended - Mining consultant

Mining consultant Wisdom Gomashie has criticised a recent technical report authored by Professor Ebo Turkson, claiming that the increase in gold purchases by the Ghana Gold Board (GoldBod) is evidence of a significant reduction in gold smuggling.

In the report, Dr Turkson noted that in 2025 alone, GoldBod brought nearly 40 tonnes of gold, valued at approximately US$3.8 billion that used to be smuggled out of Ghana back into the formal economy.

Reacting in a Facebook post on January 12, 2025, Gomashie described the report as “unfortunate” and lacked academic credibility.

“So, an increase in purchases from 63tonnes in 2024 to 103 tonnes in 2025 means, the difference 103 - 63 = 40 tonnes was smuggled in the previous year? This is weak and pedastrain analysis that will not pass any academic work,” he wrote.

Gomashie argued that higher purchase volumes alone cannot be used as evidence that smuggling has declined.

He said that assumption that the 40‑tonne increase represents gold previously smuggled out of the country is fundamentally flawed.

He further pointed to several policy realities that undermine the report’s conclusions in his post.

“Are you aware in 2025 the Minister responsible for Mines didn't grant any small-scale mining license? Are you aware the government claimed they had banned mining in forest reserves? While illegal mining was still ongoing in forest reserves until December 2025 when the LI2462 was revoked? And its revocation hasn't stopped illegal mining in forest reserves?”

Gomashie concluded by questioning the credibility of the analysis, insisting the report doesn’t depict the through state of Ghana’s mining sector.

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