The National Concerned Association of Small-Scale Miners, Ghana (NCSSMAG) has thrown its full support behind the Mahama government’s decision to establish a Gold Board (GOLDBOD) to regulate the trading of gold from small-scale miners.
In a statement released by the association, President Michael Kwadwo Peprah described the initiative as “long overdue” and a critical step toward ensuring fair pricing, eliminating exploitation by foreign buyers, and optimizing national benefits from the small-scale mining sector.
The NCSSMAG commended the government for adopting a transparent and broad consultative approach in the establishment of the GOLDBOD. The Sammy Gyamfi-led GOLDBOD Technical Committee has been praised for its inclusive engagement with stakeholders, which has fostered confidence in the initiative.
“For us in the NCSSMAG, it is refreshing to see that our suggestion for a well-structured gold trading sector is being prioritized by the new Mahama government,” said Peprah.
The association expressed excitement over the government’s proposal to use the GOLDBOD as a vehicle to support small-scale miners in various ways. These include geological investigations, concession viability assessments, equipment financing, sustainable environmental management, concessional financing, and corporate social responsibility projects in mining communities. According to Peprah, “This is surely the game-changer that we, the small-scale miners of this country, need.”
The NCSSMAG highlighted the challenges small-scale miners face in the current gold trading system. While the law permits the Precious Minerals Marketing Company (PMMC) to buy gold from small-scale miners, inadequate government funding has hindered the company’s ability to compete effectively in the market.
As a result, miners have been forced to rely on foreign buyers, leading to significant revenue losses for both miners and the state.
“The emergence of multiple state agencies in the local gold market has not helped either,” Peprah noted.
The association urged the Mahama government and Parliament to allocate adequate resources to the proposed Gold Board to ensure a well-structured and competitive gold market for small-scale miners.
“At a time of economic crises, the GOLDBOD is Ghana’s surest way of generating significant foreign exchange to stabilize the Ghana cedi for economic revitalization,” Peprah emphasized.
He called on the government to expedite the processes for the establishment of the GOLDBOD as a matter of urgency.
The NCSSMAG expressed hope that the initiative would receive widespread support from all stakeholders. “It is our fervent hope that this noble agenda will be supported by all stakeholders in the supreme interest of our dear nation,” Peprah stated. The association believes that the GOLDBOD, if implemented effectively, will not only transform the small-scale mining sector but also contribute significantly to Ghana’s economic recovery and growth.
Below is the full statement
NCSSMAG ENDORSES GOLDBOD TO ENSURE FAIR PRICING FOR SMALL SCALE MINERS
4th March, 2025
The National Concerned Association of Small-Scale Miners, Ghana (NCSSMAG) wishes to throw its weight behind the decision of the Mahama government to establish a Gold Board to regulate the trading of gold from small-scale miners.
This initiative is long overdue and will ensure fair pricing, eliminate exploitation by foreign buyers and optimize national benefits from the small-scale mining sector if implemented.
The transparent and broad consultative approach adopted by the Sammy Gyamfi-led GOLDBOD Technical Committee so far, is highly commendable.
For us in the NCSSMAG, it is refreshing to see that our suggestion for a well-structured gold trading sector is being prioritized by the new Mahama government.
Even more exciting is the proposal by government to use the GOLDBOD as a vehicle to support small-scale miners through geological investigations, concession viability, equipment financing, sustainable environmental management, concessional financing and other corporate social responsibility projects in mining communities. This is surely the game-changer that we the small-scale miners of this country need.
While the law permits PMMC to buy gold from small-scale miners, inadequate government funding has prevented the company from competing effectively in the market. As a result, miners have been forced to rely on foreign buyers, leading to revenue losses for both miners and the state. The emergence of multiple state agencies in the local gold market has not helped either.
It is therefore imperative for the Mahama government and Parliament to allocate adequate resources to the proposed Gold Board to ensure a well-structured gold market for small-scale miners.
At a time of economic crises, the GOLDBOD is Ghana’s surest way of generating significant foreign exchange to stabilize the Ghana cedi for economic revitalization.
We therefore call on government to expedite the processes for the establishment of the GOLDBOD as a matter of urgency.
It is our fervent hope that this noble agenda will be supported by all stakeholders in the supreme interest of our dear nation.
Michael kwadwo peprah
(0248775556)
President NCSSMAG
WRITER: NAYA
