By Felix Cofie
Lands and Mines Watch Ghana (LMWG) has dismissed claims by the Minority Caucus in Parliament that the licensing of Bawa Rock Limited under the Ghana Gold Board (GoldBod) scheme creates a monopoly, describing the allegations as misleading, politically charged, and lacking industry context.
In a statement released on Wednesday, the civil society group said while parliamentary oversight remains essential to democratic governance, the Minority’s recent press briefing has “generated more heat than light”, and risks undermining confidence in Ghana’s ongoing reforms in gold trading and mining.
“The public deserves clarity, not conjecture,” LMWG stated, warning that unsubstantiated political narratives could weaken reforms aimed at strengthening indigenous participation in the extractive sector.
Bawa Rock Not a New Entrant
LMWG stressed that Bawa Rock Limited is not a sudden beneficiary of policy change, but a long-standing player in Ghana’s mining and precious metals trading space. According to the group, the company has steadily invested in systems, infrastructure, and personnel aligned with international best practices.
“Any serious national discussion about Bawa Rock’s role under GoldBod must begin with facts, history, and capacity—not political soundbites,” the statement noted.
Monopoly Allegation “Factually Inaccurate”
Responding to claims that Bawa Rock’s licence undermines competition, LMWG described the monopoly narrative as a deliberate distortion of the GoldBod framework.
The group explained that the GoldBod system recognises multiple licensed operator categories, including Aggregators, Self-Financing Aggregators, Tier 1 Buyers, and Tier 2 Buyers, all operating under uniform pricing rules.
“Within the GoldBod structure, no trader competes on price,” LMWG clarified. “The only monopoly within the system is GoldBod itself as a state agency. Licensees operating under its terms cannot be classified as monopolies.”
Professional Management and Industry Leadership
LMWG highlighted Bawa Rock’s professional management systems, collaborations with licensed buyers, and engagement with experienced metallurgists and logistics specialists as evidence of its operational credibility.
The company, the group said, maintains documented procedures, compliance systems, and structured pricing mechanisms—standards often missing in the artisanal gold trading sector.
“Within industry circles, Bawa Rock is widely regarded as one of the most serious indigenous players Ghana has produced in recent years,” the statement added.
Investment in Foundry and Assaying Infrastructure
Unlike firms that exploit policy loopholes, LMWG said Bawa Rock has made significant capital investments in modern assaying and foundry equipment, ensuring accurate gold content determination and fair pricing for miners.
“These investments protect miners from underpricing and enhance Ghana’s credibility in international dore markets,” the group said, describing the infrastructure as a sign of long-term commitment rather than opportunism.
Licence Rooted in Law
LMWG emphasized that Bawa Rock’s licence is grounded in the GoldBod Act, 2025 (Act 1140) and aligns with national objectives such as improving traceability, reducing smuggling, strengthening formal gold purchases, and supporting Ghana’s reserve accumulation strategy.
According to the group, the licence was issued through a statutory process, not political patronage.
Political Theatre, Not Oversight
The organisation criticised the Minority’s continued public questioning of ownership structures without presenting evidence of wrongdoing, describing it as political theatre masquerading as oversight.
“Transparency is best served through institutional engagement and documentation, not press conferences designed to score political points,” LMWG stated.
The group warned that such conduct could discourage serious indigenous investment and send negative signals to professionals willing to commit capital to Ghana’s gold sector.
Let Industry Work
Calling for restraint, LMWG urged politicians to separate political contestation from industry operations.
“Politicians must be allowed to do their politics, but industry players must also be allowed to do their work,” the statement said, cautioning against attempts to “target businesses for collapse based on selfish political interests.”
Conclusion
LMWG concluded that Bawa Rock Limited represents indigenous capacity, professionalism, and forward-looking leadership in Ghana’s gold trading industry.
“Attacking such an entity without evidence does not strengthen accountability; it weakens national reform efforts,” the statement said, urging the Minority to elevate the discourse and support reforms that promote transparency, traceability, and long-term value for Ghanaians.
