Ghana’s Gold Board Act 2025 (Act 1140) makes GoldBod the sole buyer, assayer, exporter and regulator of artisanal and small-scale gold. It self-reports more than US$10bn of small-scale exports for 2025 (per GoldBod, unaudited); independent analysts contest the model’s cost.
Visit goldbod.gov.ghOn 2 April 2025 Ghana adopted the Gold Board Act (Act 1140), creating GoldBod as a state monopsony over artisanal and small-scale gold: sole buyer, sole assayer, sole exporter and regulator of the segment, with a licence registry online.
The stated results came fast, and from GoldBod itself: US$8.06bn of small-scale exports from January to mid-October 2025, roughly 82 tonnes, and more than US$10bn claimed for the full year. All of these figures are per GoldBod and unaudited; this hub does not carry them as headline statistics.
The model is being wired into the refining chain: from February 2026, Rand Refinery supervises Ghana’s Gold Coast Refinery to refine up to 1,000 kg per week of ASM doré under a GoldBod agreement, announced on 21 January 2026.
GoldBod’s own record is one of scale: US$8.06bn of small-scale exports January to mid-October 2025 and a claimed total above US$10bn for the full year (per GoldBod, unaudited).
The independent record is more critical: a MyJoyOnline analysis argues the financing structure left a GH¢9bn hole at the Bank of Ghana, and observers warn that monopoly pricing invites smuggling. The law’s existence and powers are strongly corroborated; the figures and the model’s economics are contested, and this hub carries both sides, attributed.
The watch item: GoldBod has promised blockchain track-and-trace of every gram by end-2026. The procurement was announced in November 2025, no vendor is public, and the timeline has already slipped once. The deadline is tracked on this hub’s ledger.
The Gold Board Act (Act 1140) is adopted on 2 April: GoldBod becomes sole buyer, assayer, exporter and regulator of ASM gold. By mid-October it self-reports US$8.06bn of small-scale exports for the year (unaudited).
In November, GoldBod announces a blockchain track-and-trace procurement targeting "every gram" by end-2026.
The Rand Refinery partnership with Gold Coast Refinery is announced on 21 January and operational in February: up to 1,000 kg per week of ASM doré refined under a GoldBod agreement.