Ghana open its 1st Gold refinery /* blocks foreigners from trading gold /*galamsey crackdown

[get these nets]

Aug 15, 2024

US$100 million gold refinery to boost value addition

A US$100million state-of-the-art gold refinery – Royal Ghana Gold Refinery (RGGR) – is set to transform the country’s gold industry by boosting value addition.

mobile.ghanaweb.com

 

[KillerPups]

Get that money

 

[BaggerofTea]

Better late than never

 

[Secure Da Bag]

Control the mining and refining, the money is flying.

 

[Seoul Gleou]

Dangote opening a refinery and now this.


This is beautiful

 

[get these nets]

Ghana orders foreigners to exit gold market by April 30​

April 14, 2025


A newly established regulatory authority for gold exports in Ghana declared on Monday that foreign buyers will no longer be permitted to purchase or trade artisanally mined gold in the nation, which is Africa's leading gold producer.
Starting May 1, all gold transactions must be conducted with licenses issued by the newly formed Ghana Gold Board, also referred to as GoldBod, as stated in an announcement from the organization.
Licenses that were previously granted by the Precious Minerals Marketing Company, which handled the marketing of the country's mineral output, will no longer be recognized.



The announcement emphasized that from next month onward, no entity will be allowed to buy or engage in gold trading in Ghana except for GoldBod, which was established to regulate gold commerce and enhance revenue from exports.
According to the new legislation, GoldBod will serve as the exclusive buyer, seller, assayer, and exporter of all gold produced by licensed small-scale miners in Ghana, with criminal charges applicable to those who operate without a license from the board.
Historically, both local and international companies with export licenses had the ability to purchase and export gold from small-scale miners in Ghana.
On March 29, Parliament approved the Ghana Gold Board bill, which President John Dramani Mahama signed into law on April 2.
Prince Kwame Minkah, a spokesperson for GoldBod, informed The Associated Press that "the trading activities of GoldBod are anticipated to lead to the accumulation of necessary reserves to bolster our foreign exchange and, consequently, address gold smuggling."
The persistent issue of illegal gold mining, locally termed 'galamsey,' was a significant topic during last year's presidential election campaign in Ghana and raised concerns among voters, leading to protests and criticism of the outgoing administration.
Ghana ranks as the sixth largest gold producer globally, yet illegal mining has surged as individuals seek employment in a struggling economy, resulting in environmental pollution of rivers and other areas, despite government efforts to curb the practice.
Before the bill was approved by Parliament, Finance Minister Dr. Cassiel Ato Forson stated: "The GoldBod initiative will enable Ghana to fully capitalize on the entire gold value chain — encompassing extraction, refining, value addition, and marketing — at both local and international levels."

 

[IsThatBrothaMouzone?]

Africa needs industry.

Too much emphasis on resource extraction and not enough on manufacturing goods or offering services.

The whole continent could be a "one stop shop" with raw materials being sent to factories and workers converting said materials into all manner of consumer goods. Jobs galore.

But....at least Ghana has the right idea in not letting foreigners get their hands on the pie.

 

[TheJet]

 

[TRUEST]

This needs to encouraged.

 

[broller]

 

[get these nets]

04/15/25

GAF launches nationwide “surgical” operation on galamsey sites to protect forests and water bodies​

The Ghana Armed Forces (GAF) has launched a series of strategic anti-galamsey operations across the Northern, Central, and Southern Commands in a renewed effort to combat illegal mining activities within protected areas.

Dubbed “surgical operations,” these missions are designed to effectively dismantle galamsey operations while minimising collateral damage.
The move forms part of a
broader national initiative to protect the environment and preserve critical water bodies.
According to the Minister for Defense, Dr. Edward Omane Boamah, the operations were carefully synchronised to take place simultaneously across the three commands.
In the Northern Command, troops were deployed to Bole and the Black Volta Basin areas recently hit by a surge in illegal mining.
The military dismantled mining camps and confiscated equipment used by illegal miners, aiming to curb the pollution of key water sources and protect farmlands under threat.
In the Central Command, operations were concentrated within the Nkawie and Mankranso Forest Reserves.
The Southern Command focused on the Jerusalem enclave and the Subri Forest Reserve.

Dr. Omane Boamah confirmed these developments in a Facebook post, emphasizing the government’s commitment to tackling the galamsey menace head-on while protecting Ghana’s natural resources.
“A number of excavators and related equipment were seized. Shelters of illegal miners in forest reserves…,” he wrote

 

[Rekkapryde]

 

[Savvir]

If small gold mining operations can’t sell on the free market anymore, does that mean that Goldbod has the ability to completely control what price the miners sell at?

There’s no market competition anymore, so Goldbod could fix whatever price they want and miners have no choice but to comply.

What was the benefit of the policy? Is it that money goes into the hands of government first instead of directly to mining operations? Are these mining operations run by native Ghanaians?

 

[get these nets]

Western Regional Minister criticises police officers for accepting bribes from illegal miners​

04/19/25

Western Regional Minister Joseph Nelson has urged the Western Central Police Command to renew its commitment to fighting illegal mining (galamsey) without compromise.
Speaking at a meeting with police leadership in Tarkwa, Minister Nelson expressed concern over reports suggesting that some police officers may be accepting bribes from illegal miners.
He warned that Ghana’s food security is under serious threat, largely due to the devastating impact of galamsey on water bodies and arable land.

“On galamsey, there’s a lot to be done. As Regional Minister, I’ve heard both the good and the bad. While I commend your efforts, I must also highlight the negatives, particularly in the fight against galamsey. Our environment is being destroyed in the pursuit of gold and money, putting countless lives at risk,” he said.
“Some may think that if water bodies are destroyed, we can simply buy bottled water, but that is a dangerous mindset. The consequences of galamsey will ultimately affect all of us, and we are already seeing its negative impacts on our health and daily lives.”

He added, “As leaders, we must care about the communities affected by galamsey, even if we do not live there. The real question is whether we should prioritize short-term profits over long-term sustainability and the well-being of our communities.”


Addressing the country’s food security concerns, the Minister emphasized, “Today, our country’s food security is in serious danger. The land we once used to plant cassava and other staple crops is under threat. As you drive around, do you see thriving cassava farms anymore? It’s disheartening to witness the decline.”


He also expressed disappointment over allegations of police officers accepting bribes, noting, “Just this evening, someone called me to complain that some officers are accepting bribes, ranging from GH₵2,000 to GH₵3,000. While money is important, it is far more rewarding when earned honestly.”

Meanwhile, Western Central Police Commander, DCOP Desmond Boampong, pledged his commitment to supporting the fight against illegal mining. However, he cited intimidation from unknown individuals claiming to be members of the National Democratic Congress (NDC) as a major challenge.



According to DCOP Boampong, these individuals harass police officers during galamsey arrests, undermining efforts to enforce the law. He appealed to the Regional Minister for assistance in addressing the issue to strengthen the fight against galamsey.

 

[Neuromancer]

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