Ghana’s small-scale gold mining sector has recorded unprecedented export earnings, generating over US$8 billion in foreign exchange between January and October 15, 2025, according to new data released by the Ghana Gold Board (GoldBod) and the Precious Minerals Marketing Company (PMMC).
The report shows that 81,719.23 kilograms of gold, valued at US$8.06 billion, were exported within the period — a remarkable jump from US$4.61 billion in 2024 and nearly four times the US$2.19 billion recorded in 2023. This growth reflects a consistent increase in both production and export value over the past three years.
GoldBod attributed the surge to enhanced regulatory oversight, greater transparency, and stronger collaboration between GoldBod and PMMC in validating small-scale gold exports. These measures, the agency said, have significantly curtailed smuggling and ensured that all export proceeds are repatriated into Ghana’s economy.
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The data also highlights a steady rise in exports throughout 2025, with standout months including April (US$897.6 million), May (US$1.17 billion), and June (US$957.9 million). The second quarter of the year proved especially strong, driven by rising global gold prices and higher production from compliant small-scale operators.
Economic analysts say the sector’s performance provides a major boost to Ghana’s foreign reserves and supports the country’s macroeconomic recovery efforts under the IMF-supported reform programme. The inflow of foreign exchange from small-scale gold exports is also expected to stabilize the cedi and improve the balance of payments.
In its statement, GoldBod commended small-scale miners for adopting responsible and sustainable mining practices, acknowledging their growing contribution to national development. The agency reaffirmed its commitment to strengthening regulatory systems and deepening formalization within the artisanal mining sector.
GoldBod further emphasized that with continued digital monitoring, strict compliance enforcement, and transparent operations, Ghana’s small-scale gold industry could soon exceed current export levels and reinforce the nation’s position as one of Africa’s leading gold producers.
Story By: Afia Ohenewaa Akyerem