Ghana will officially launch a gold traceability system by 2026 to help regulate small-scale mining and stop illegal gold trading.
This was announced by the Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi during an interview on Asempa FM’s Ekosiisen programme on Tuesday, July 8, 2025.
Once this initiative is in place, the system will ensure that only gold with a known source can be exported. Gold without clear traceability may be blocked from export, and penalties could follow.
“When the gold is traceable, you can go to the LBM [London Bullion Market] refineries and get the LBM export price because you are qualified. But if the source of the gold cannot be traced, what do we do with it? It’s a very controversial issue for now,” he highlighted.
Mr. Gyamfi explained that Ghana has been mining gold since the colonial era, but there is still no proper system to trace the origin of gold, especially in the small-scale mining sector.
“We started mining gold since the colonial days and yet, to date, we don’t have any traceability system so we can identify our gold when it is exported or from which mine a particular gold is coming from,” Gyamfi lamented.
He noted that while large-scale mining companies have some level of traceability, small-scale operations remain informal and unregulated. To address this, the current government led by President John Dramani Mahama has taken steps to bring order to the sector.
“That is why when the NDC came, it established the Gold Board, and the Board renounced all previous licenses and introduced a new online licensing system,” he explained.
The new licensing system is fully digital, allowing applicants to apply, pay, and track their licenses online. This is to ensure transparency and eliminate corruption.
“So nobody can claim that the Gold Board or I, the CEO, took any money from them for their licenses to be approved. So far, we’ve given 615 licenses in all the categories,” Gyamfi stated.
He listed the number of licenses issued so far: 1 Aggregator license, 4 Self-financing Aggregator licenses, 263 approved Tier 2 (sub-aggregator) licenses with 192 already issued, and 348 approved Tier 1 buyer licenses with 123 issued. In total, 615 licenses have been approved, and 319 have been printed and issued.
Gyamfi emphasized that implementing a national traceability system will take time and should be seen as a medium-term plan.
“It was 2nd April that the law was passed. So is it within these three, four months that I should do all the traceability of the gold? No, it will take time. By 2026, we will have our own traceability system. We will procure the system and then onboard the miners,” he explained.
Mr. Gyamfi urged the public to be patient and support the initiative, calling it a major step toward ending illegal mining, protecting Ghana’s gold revenue, and building trust in the country’s mining sector.
The track-and-trace initiative is a key component of GoldBod’s broader push to secure London Bullion Market Association (LBMA) certification — a globally respected mark of credibility in the gold industry.
To qualify for LBMA certification, gold refiners must satisfy a series of rigorous conditions, including financial soundness, a credible and well-equipped analytical laboratory, proven production capacity, market experience, and a strong commitment to responsible sourcing. Regular independent audits are also required to maintain the certification.
With the rollout of these reforms, GoldBod is positioning Ghana not only as a leading gold producer but also as a responsible actor in the global mineral trade. The Mining in Motion conference continues tomorrow with high-level discussions expected to focus on governance, investment, and inclusive growth in the extractive sector.
