NCSSMAG ENDORSES GOLDBOD TO ENSURE FAIR PRICING FOR SMALL SCALE MINERS

The Concerned Association of Small-scale Miners Ghana(NCSSMAG) have commended the President of Ghana, His Excellency John Dramani Mahama for initiating GoldBoard.

 

 

A letter signed by Mr. Michael Kwadwo Peprah, the President of the Association emphasized on how the initiative by this government will enhance the Gold business.

 

 

Release as follows…

 

NCSSMAG ENDORSES GOLDBOD TO ENSURE FAIR PRICING FOR SMALL SCALE MINERS

 

4th March, 2025

 

The National Concerned Association of Small-Scale Miners, Ghana (NCSSMAG) wishes to throw its weight behind the decision of the Mahama government to establish a Gold Board to regulate the trading of gold from small-scale miners.

 

This initiative is long overdue and will ensure fair pricing, eliminate exploitation by foreign buyers and optimize national benefits from the small-scale mining sector if implemented.

 

The transparent and broad consultative approach adopted by the Sammy Gyamfi-led GOLDBOD Technical Committee so far, is highly commendable.

 

For us in the NCSSMAG, it is refreshing to see that our suggestion for a well-structured gold trading sector is being prioritized by the new Mahama government.

 

Even more exciting is the proposal by government to use the GOLDBOD as a vehicle to support small-scale miners through geological investigations, concession viability, equipment financing, sustainable environmental management, concessional financing and other corporate social responsibility projects in mining communities. This is surely the game-changer that we the small-scale miners of this country need.

 

While the law permits PMMC to buy gold from small-scale miners, inadequate government funding has prevented the company from competing effectively in the market. As a result, miners have been forced to rely on foreign buyers, leading to revenue losses for both miners and the state. The emergence of multiple state agencies in the local gold market has not helped either.

 

It is therefore imperative for the Mahama government and Parliament to allocate adequate resources to the proposed Gold Board to ensure a well-structured gold market for small-scale miners.

 

At a time of economic crises, the GOLDBOD is Ghana’s surest way of generating significant foreign exchange to stabilize the Ghana cedi for economic revitalization.

 

We therefore call on government to expedite the processes for the establishment of the GOLDBOD as a matter of urgency.

 

It is our fervent hope that this noble agenda will be supported by all stakeholders in the supreme interest of our dear nation.

 

 

 

Signed..

 

Michael kwadwo peprah

 

President NCSSMAG