The nationwide crackdown on illegal gold trading by Ghana GoldBod has resulted in the recovery of GH¢3,036,990.00 in cash.
This information was included in GoldBod’s third-quarter report for 2025.
The intensified enforcement actions also led to the recovery of foreign currencies, including US dollars, CFA francs, and Moroccan dirhams.
Officials confiscated various items such as gold doré, gold dust, mercury, firearms, mobile phones, and forged documents—materials frequently associated with unregulated gold-trading networks.
Investigations have revealed the involvement of foreign nationals from the United States, Morocco, and Burkina Faso, raising alarms about the growing cross-border participation in illegal mining and gold smuggling activities.
The Board is also investigating whether certain Tier 2 licensees may have facilitated or misused their licenses to assist unlicensed operators.
GoldBod’s Legal Directorate is actively pursuing 20 ongoing cases involving individuals and entities accused of operating without valid trading licenses.
A detailed breakdown of the current cases includes 10 cases under investigation, six suspects who have been granted bail, one suspect who received court bail, and one case that is pending trial. The remaining cases are under police inquiry, with other suspects having been deported.
The statutory report also indicated significant gains in gold aggregation, exports, reserve buildup, and regulatory enforcement for the period from July to September 2025.
The Board 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 formalize and streamline the ASM value chain.
GoldBod further advanced Ghana’s reserve strategy by acquiring 119.78 kilograms of gold from large-scale mining firms for the Bank of Ghana.
This reserve purchase, valued at US$11.82 million, is part of the central bank’s ongoing policy to enhance the nation’s gold-backed reserves.
Gold exports experienced another robust quarter.
ASM operations exported a total of 25,780.60 kg, which is valued at US$2.71 billion, whereas LSM producers exported 24,911.21 kg, with a value of US$2.43 billion.
Regarding sector regulation, GoldBod reported that it processed 577 licenses under its newly implemented tiered system, which aims to enhance compliance and facilitate entry for legitimate operators.
This processing included 432 Tier 2 licenses, 123 Tier 1 licenses, and 22 approvals for self-financed aggregators.
Additionally, the Board issued two license suspensions and one revocation, thereby reinforcing its dedication to purifying the gold trading ecosystem and encouraging responsible mining practices.
