Accra: GoldBod and the Ghana Chamber of Mines have finalized a significant agreement to purchase 30 percent of large-scale miners' gold output starting from July 1, 2026. The agreement was executed under the joint supervision of the Ministers of Finance and Lands and Natural Resources.
According to Ghana News Agency, a statement released in Accra revealed that each large-scale mining company will sell 30 percent of its output to GoldBod in dor© form. The sales will be conducted at a 0.55 percent discount, with transactions executed in cedis based on the Bank of Ghana reference rate. This deal supersedes a previous 2022 agreement between the Bank of Ghana and the Ghana Chamber of Mines.
The statement also highlighted that all dor© gold acquired under this agreement will undergo local refining to retain value before being sent to a London Bullion Market Association (LBMA) refinery for melting and stamping. The refined gold will then be delivered to the Bank of Ghana to bolster the country's reserves.
The initiative is part of the Ghana Accelerated National Reserve Accumulation Programme (GANRAP), which aims to achieve 15 months of import cover by 2028 and eliminate raw mineral exports by 2030. Additional information regarding the memorandum of understanding among the Ministry of Finance, Ministry of Lands and Natural Resources, GoldBod, the Bank of Ghana, and the Ghana Chamber of Mines is set to be released on July 29, 2026.