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The Ghana Gold Board (GOLDBOD) purchased between 50 and 54 metric tonnes of gold from Artisanal and Small-scale Mining (ASM) operators in the first half of 2026, with output from the sector projected to match or surpass last year’s record performance.
GOLDBOD Chief Executive Officer, Sammy Gyamfi, disclosed the figures on Tuesday, saying the development points to another strong year for Ghana’s gold sector, which remains the country’s leading export commodity and a major source of foreign exchange earnings.
The increase in ASM gold production follows reforms introduced to curb smuggling and improve the sector’s contribution to the economy.
Ghana, Africa’s largest gold producer, recorded a record 104 metric tonnes of gold production in 2025, with output from small-scale miners surpassing large-scale mining production for the first time.
“We are around 50-54 metric tonnes this year in purchases,” Gyamfi told reporters. “At this rate, we are likely to match or even surpass last year’s output.”
According to him, GoldBod generated nearly $11 billion in foreign exchange earnings from the ASM sector in 2025, while large-scale mining companies contributed about $9 billion.
Gyamfi, however, noted that the recent decline in international gold prices has affected earnings projections for the year.
He said GOLDBOD’s 2026 forecasts were based on an average gold price of about $5,000 per ounce and weekly purchases of approximately 2.5 metric tonnes.
Despite the decline in prices, Gyamfi said Ghana remains on course to record higher gold export earnings than last year, as average bullion prices continue to remain above 2025 levels, although below GOLDBOD’s initial projections.
He added that sustained production from the ASM sector would continue to support foreign exchange inflows and strengthen the country’s economic recovery efforts.
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