Parliament Passes Groundbreaking GoldBod Bill into Law
In a landmark move, Ghana’s Parliament has passed the GoldBod Bill 2025 into law, paving the way for the formalization and regulation of small-scale mining in the country.
The bill establishes the Ghana GoldBod, which will oversee, monitor, and regulate the buying, selling, and export of gold and other precious minerals.
The GoldBod will play a crucial role in promoting responsible mining practices, building gold reserves within the Central Bank, and generating revenue to stabilize the cedi.
Additionally, it will regulate gold trading, enhance traceability, and work towards obtaining certification from the London Bullion Market Association (LBMA).
While the Majority Leader, Mahama Ayariga, hailed the bill as a landmark piece of legislation, the Minority in Parliament expressed concerns that it could lead to an increase in illegal mining, known as “galamsey.”
Despite their objections, the bill was passed, with the First Deputy Speaker of Parliament, Bernard Ahiafor, declaring, “The Ayes have it, the motion is accordingly adopted.”
The creation of the Ghana GoldBod is a key promise in the National Democratic Congress (NDC) 2024 manifesto, aimed at regulating and marketing the country’s gold resources for national benefit.
President John Dramani Mahama initiated the creation of the GoldBod as part of his efforts to revitalize the economy.
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