By Ashiadey Dotse
Ghana Gold Board has received 100 percent of the first gold output from Damang Gold Mine Limited in what officials describe as a historic move to support the country’s foreign reserves.
The Chief Executive Officer of GoldBod, Sammy Gyamfi, announced the development after receiving a delegation from Damang Gold Mine at the GoldBod Assay Laboratory at the Accra International Airport.
The mine, owned by Ibrahim Mahama, delivered about 110 kilogrammes of gold, all of which will be assayed, valued and purchased by GoldBod on behalf of the Bank of Ghana.
The gold will then be refined and added to the central bank’s gold reserves.
Mr Gyamfi said the transaction marks an important step in strengthening Ghana’s foreign reserves and supports the government’s Ghana Accelerated National Reserve Accumulation Programme.
He stressed that having Ghanaians play leading roles in the mining sector is key to ensuring the country gains maximum benefits from its natural resources.
The GoldBod CEO also expressed concern about the low level of participation by large-scale mining companies in efforts to build the country’s reserves.
He called on other mining firms to follow the example set by Damang Gold Mine to help boost Ghana’s economic stability.
Officials say the move is expected to contribute positively to the country’s reserve position and overall economic transformation.
