By: Ashiadey Dotse
The Director of Communications for the Ghana Gold Board, Mr. Prince Minkah, has disclosed that the Board is aligning its operations with the London Bullion Market Association (LBMA) standards to promote sustainable and transparent gold trading in the country.
Speaking on GTV’s Breakfast Show on Thursday, October 23, 2025, Mr. Minkah explained that the LBMA standards emphasize responsible sourcing and full traceability of gold, ensuring that every gram of gold traded in Ghana can be tracked to its original source.
He said the Gold Board is introducing a technology-powered “Track and Trace System” to verify the origin of all gold traded on the market. The system, expected to fully take off next year, will enable the Board to ensure that no gold from illegal small-scale mining enters the official supply chain.
Mr. Minkah emphasized that the Board deals only with licensed dealers and artisanal small-scale miners, adding that every transaction is regulated and monitored through a transparent licensing structure.
He also revealed that the new regulatory framework has helped eliminate foreign infiltration and unregulated trading that previously caused Ghana to lose revenue from gold exports.
“It is now illegal to trade in gold without a Gold Board license,” Mr. Minkah cautioned, noting that offenders will be punished under Act 1140, which establishes the Ghana Gold Board.
Mr. Minkah also stated that the reforms have already strengthened the gold value chain, improved export earnings, and restored confidence in Ghana’s gold trading industry.
