• GoldBod exported over 41.5 tons of artisanal gold between February and May 2025

• Revenue reached about $4 billion, surpassing industrial gold exports for the first time

• Ghana aims to earn $6 billion from ASM gold in 2025 and $12 billion in 2026

GoldBod, the state-run body overseeing gold trade in Ghana, exported more than 41.5 tons of gold from artisanal and small-scale mining (ASM) between February and May 2025, earning around $4 billion. The announcement was made by CEO Sammy Gyamfi on June 3, during the Mining in Motion Summit taking place this week in Accra, from June 2 to 4.

As of May 1, GoldBod holds the exclusive right to buy and export ASM gold in Ghana. The institution now aims to purchase at least 3 tons of gold per week, up from around 1.5 tons per week at the beginning of the year. The latest export data reflects the early impact of this more aggressive strategy.

According to Gyamfi, this marks a historic shift. For the first time, ASM gold exports have surpassed those from large-scale industrial mines in the country. However, he did not disclose export revenue figures from industrial mining for the same period, which would have backed up the comparison. It also remains unclear whether the reported $4 billion includes gold traded by the Precious Minerals Marketing Company (PMMC), the former state entity in charge of buying ASM gold.

Ghana has been working in recent years to bring more order to its local artisanal mining sector. The goal is to boost public revenue and reduce gold smuggling, which has caused major losses. Giving GoldBod sole buying power is part of that effort. This move also comes at a time when global gold prices are soaring. In 2025, the price of gold crossed $3,000 per ounce for the first time, and is now hovering around $3,300, according to the World Gold Council.

With prices high and market conditions favorable, GoldBod is pushing ahead with its reform plans. The agency wants to generate $6 billion in ASM gold revenue by the end of 2025, and double that to $12 billion in 2026. Achieving this target will depend on how well GoldBod can manage the sector, which it claims to control over 90% of current ASM production.

One critical issue will be how GoldBod handles gold pricing policies. Pricing remains a sensitive point for small-scale miners, especially in a rising market. Ghana’s Chamber of Mines has recently raised concerns, warning that even small pricing changes under the new system could lead to sharp shifts in ASM output.