GoldBod to Launch Digital Gold Traceability System by Year-End – CEO Sammy Gyamfi

The CEO of GoldBod, Sammy Gyamfi, has announced that the company will deploy a digital traceability system across its gold supply chain before the close of 2025. This technology aims to enhance transparency, boost market access, and increase the value of gold sourced from Ghana’s Artisanal Small-scale Mining (ASM) sector.

Speaking at the official opening of the Mining in Motion Summit held in Accra on Monday, June 2, Mr. Gyamfi stated that in the medium to long term, GoldBod’s system will allow for every gram of gold purchased to be fully traceable—from the final buyer back to the original licensed mine of origin. These mines, he emphasized, must comply with Ghana’s mining laws and adhere to responsible, legal, and sustainable mining practices aligned with global standards.

As part of broader efforts to formalize and improve ASM practices, Mr. Gyamfi disclosed that, beginning in September 2025, GoldBod will partner with the Ministry of Lands and Natural Resources to train artisanal miners in eco-friendly techniques and modern gold recovery methods. This move, he explained, is intended to significantly boost Ghana’s ASM gold output.

GoldBod also plans to support the government’s cooperative mining program by investing alongside its private partners. These investors will receive returns on their investment through discounted gold over a 24 to 36-month period.

Beyond mining operations, Mr. Gyamfi emphasized the company’s commitment to sustainability and social development. He announced that a substantial portion of GoldBod’s trading surplus will be channeled into land reclamation projects and government-led initiatives such as the Blue Water and Tree for Life programs.

“In addition,” he noted, “we will fund geological investigations to provide accurate data to guide responsible ASM, medium-scale, and large-scale mining—bringing an end to speculative, so-called ‘lottery mining.’”

As part of its corporate social responsibility policy, GoldBod will also invest in key infrastructure and community welfare initiatives. These include the development of modern education and healthcare facilities, scholarships for underprivileged yet high-performing students, potable water systems, and other socio-economic programs aimed at uplifting communities affected by illegal mining activities.

Mr. Gyamfi delivered a strong message against gold smuggling, declaring that GoldBod is resolute in ending the illegal trade of the country’s gold. “The era of uncontrolled gold smuggling is over,” he said. “We will ensure all gold exports are legal, and the foreign exchange proceeds are fully repatriated to support the national economy and improve the lives of Ghanaians.”

To reinforce this stance, he revealed that GoldBod, in collaboration with the National Security Secretariat, will soon establish a dedicated anti-gold smuggling taskforce. This initiative will intensify the crackdown on illegal gold trading, with offenders facing strict legal consequences.

Highlighting the government’s vision for value addition, Mr. Gyamfi announced plans to shift Ghana’s gold exports from dore bars to refined bullion in the near future. To achieve this, GoldBod is collaborating with local refineries that have clear strategies to attain London Bullion Market Association (LBMA) accreditation.

Moreover, the company has begun preparatory work for the establishment of an ISO-certified, LBMA-compliant international assay laboratory, expected to be operational by 2026. A site for the facility has already been secured. This laboratory will ensure all gold exported from Ghana undergoes fire assay testing to guarantee accurate purity and valuation.

Mr. Gyamfi also reiterated GoldBod’s openness to strategic partnerships, especially in realizing President Mahama’s vision of establishing a ‘Gold Village’ in Ghana—an African hub for gold jewelry production and trade.