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Ghana plans gold board to increase earnings and curb smuggling

Ghana is set to establish a gold trading hub and a refinery to enhance its earnings from gold and combat smuggling, as announced by the country's Deputy Minister of Lands and Natural Resources, George Mireku Duker, on January 27, 2025. The initiative includes the formation of a Gold Board to oversee the trading of gold, aiming to increase transparency and efficiency in the gold market. This move is part of a broader strategy to formalize the artisanal and small-scale mining sector, which has been plagued by illegal mining activities. The government plans to have the refinery operational by the end of 2025, which will help in refining gold locally rather than exporting it in its raw form, thereby retaining more value within the country. Additionally, these measures are expected to curb the smuggling of gold, which has been a significant issue, by providing a legal and more lucrative avenue for miners to sell their gold.

Read the Full Reuters Article at:
[ https://www.reuters.com/world/africa/ghana-plans-gold-board-increase-earnings-curb-smuggling-2025-01-27/ ]