Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has called for continued cooperation and flexibility among stakeholders as Ghana begins implementing the 30% gold purchase component of the Ghana Accelerated National Reserve Accumulation Programme (GANRAP).

The Minister said the programme could have significant implications for Ghana’s macroeconomic stability and financial management, following the signing of an MoU between Government, the Bank of Ghana, Ghana Gold Board and the Ghana Chamber of Mines.

Under the agreement, large-scale mining companies will sell 30% of their gold output to the Bank of Ghana and Gold Board for local processing and refining before the refined gold is transferred to the central bank as part of efforts to build the country’s reserves.

Mr Buah commended the Chamber of Mines and large-scale mining companies for their cooperation throughout negotiations leading to the agreement.

He assured the mining industry that his Ministry would continue engaging stakeholders to address any challenges that may arise during implementation.

He stressed the need for flexibility as the arrangement takes effect, noting that emerging concerns must be resolved through collaboration in a manner that protects the national interest.

Meanwhile, Bank of Ghana Governor Dr Johnson Pandit Asiama has pledged the central bank’s support for the successful implementation of the programme.

He said the BoG would work with all stakeholders to ensure that GANRAP delivers maximum benefits to the Ghanaian economy.