The Chief Executive Officer of GoldBod, Sammy Gyamfi, has stated that E&P’s decision to sell 100 per cent of its first gold production to GoldBod vindicates the company amid earlier criticism following its successful bid for the Damang Gold Mine.

According to Mr Gyamfi, the development demonstrates that the concerns raised about E&P’s capacity and intentions were unfounded.

“The decision by E&P to sell 100 per cent of its first gold production to GoldBod vindicates the company against critics following its successful bid for the Damang mine,” he said.

He explained that the move reflects the company’s commitment to national development and its willingness to align with the government’s strategy of strengthening gold reserves through local partnerships with institutions such as the Bank of Ghana.

Mr Gyamfi further emphasised that the transaction underscores the importance of allowing credible local firms to participate meaningfully in Ghana’s extractive sector.

He expressed optimism that E&P’s actions would build confidence in indigenous participation and encourage similar collaborations to support the country’s economic stability.