President John Dramani Mahama has reassured that the setting up of GoldBod and the passage of its establishing act will ensure that Ghana’s mining sector is streamlined.

It will also enable the country to derive more value for money from gold exports, he said.

In a video time-lining the beginnings of the setting up of the GoldBod, to the final signing of the presidential assent to back the act passed on Friday, March 28 by Parliament, President Mahama declared; “This is the GoldBod Act. This sets up the GoldBod that will streamline Ghana’s gold sector, including our exports, to make sure that Ghana earns more value for money from our gold mining exports.”

The video begins with the transitioning of the national assayer, the Precious Minerals Marketing Company, into the Ghana Gold Board or GoldBod, and details major events, including the inauguration of the technical committee that worked to establish the GoldBod, stakeholder engagements, as well as parliament’s reading and passage of the GoldBod bill.

The GoldBod is a monopoly in gold trading and export, with regulatory powers limited to ensuring compliance by its own licensed agents.

Watch the video below.

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