By Morkporkpor Anku
Accra, June 26, GNA – Accra, Ghana Gold Board and Ghana Chamber of Mines have signed an agreement to purchase 30 per cent of large-scale miners’ gold output from July 1, 2026.
The agreement is under the joint direction of the Ministers of Finance and Lands and Natural Resources.
A statement issued in Accra said under the arrangement, each large-scale mining company would sell 30 per cent of output to GoldBod in doré form at a 0.55 per cent discount, with purchases made in cedis at the Bank of Ghana reference rate.
It said the deal replaces a 2022 agreement between the Bank of Ghana and the Ghana Chamber of Mines.
The statement said all doré gold purchased would be refined locally to retain value before being shipped to an LBMA refinery for melting and stamping and delivery to the Bank of Ghana as part of reserves.
It said the initiative forms part of the Ghana Accelerated National Reserve Accumulation Programme (GANRAP), aimed at achieving 15 months of import cover by 2028 and zero raw mineral exports by 2030.
The statement said further details of the memorandum of understanding between the Ministry of Finance, Ministry of Lands and Natural Resources, GoldBod, the Bank of Ghana and the Ghana Chamber of Mines will be published on July 29, 2026.
GNA
Edited by Kenneth Sackey
Reporter: Morkporkpor Anku