The Ghana National Association of Small-scale Miners (GNASSM) in the country has pledged its unwavering support to the establishment of the Ghana Gold Board (GoldBod) aimed at formalising trading in the commodity.
According to the association, the establishement of the Board through an act of Parliament will provide the necessary policy and regulatory framework to curb the situation where the country is currently lossing huge revenue and forex for its needed economic transformation.
“Currently, the gold trading sector is very disorganized and informal. Government is losing a great deal of revenue and forex that could be generated from the sector for economic stability and national development.
With the establishment of the GoldBod through an Act of Parliament, we are convinced that the necessary policy framework for gold trading will be put in place to help the nation realize the full potential of the small-scale mining sector”, the statement noted.
Read the full statement below:
The Ghana National Association of Small-scale Miners (GNASSM) is so far happy with the engagement of stakeholders and the level of transparency in the establishment of the Ghana Gold Board (GoldBod) by the Government.
Small-Scale Miners are fully represented on the Technical Committee constituted by the Finance Minister to develop legislative proposals for the formation of the Ghana Gold Board. Other industry players within the supply chain (Relevant Ministries, Minerals Commission, Gold service providers, Large Scale Mining firms, industry experts, Jewelers Association, Banks, etc) are also represented on the technical committee.
Inputs from these stakeholders are ensuring that the activities of the Goldbod will not only be transparent but focus on formalizing gold trading in Ghana and support agencies that work with small scale miners positively.
Currently, the gold trading sector is very disorganized and informal. Government is losing a great deal of revenue and forex that could be generated from the sector for economic stability and national development.
With the establishment of the GoldBod through an Act of Parliament, we are convinced that the necessary policy framework for gold trading will be put in place to help the nation realize the full potential of the small-scale mining sector.
We are excited by the fact that the governing board of the soon to be established GoldBod will include representatives of all relevant stakeholders. This will ensure that the GoldBod’s operations are inclusive, beneficial to stakeholders and in conformity with international standards.
The engagement sessions with small-scale miners and other stakeholders across the country by the GoldBod technical committee, have so far been very useful in the drafting of a Bill, which is fit for purpose and guarantees fair market pricing for miners.
The Ghana National Association of Small-scale Miners (GNASSM) is committed to supporting the Government in the establishment of the Ghana Gold Board for the benefit of the nation. So far the GoldBod technical committee is on the right path. We shall keep updating our members and the general public as the process unfolds.
SIGNED.
Godwin Nickleson Amarh (0246282575)
Abdul- Razak Alhassan (0241608095
