• GoldBod signs $1B investment MoU with Stream Global TMCC

• Plan targets 300+ responsible mines, boosts gold output, jobs

• Ghana aims to curb smuggling, double gold exports by 2026

GoldBod, Ghana's state-owned gold marketing company, announced on Tuesday that it signed a memorandum of understanding in August with Stream Global TMCC. The agreement could mobilize up to $1 billion in investment to establish over 300 "responsible mines in blocked-out mineralized areas" of the country.

The announcement was made at a mining convention in Accra. While GoldBod did not disclose the specific terms of the deal, the company expects it to evolve into a "commercial agreement" by November 2025. According to GoldBod's CEO, Sammy Gyamfi, this initiative, combined with others previously announced, is expected to "increase national gold output and create thousands jobs in the mining ecosystem."

Since its establishment in May, GoldBod has been tasked with regulating Ghana's gold sector, excluding industrial mines. The company holds a monopoly on the purchase, sale, and export of gold from artisanal and small-scale mining (ASM) operations. It is also responsible for implementing reforms aimed at formalizing this sector by promoting modern and ethical extraction techniques among artisanal miners.

These measures are intended to help maximize mining revenue for the Ghanaian state and limit losses from gold smuggling. GoldBod reported it has already exported 66.7 tonnes of gold between January and August 2025, valued at $6 billion. The entity aims to double this to $12 billion in 2026.

While new small-scale mining projects could help achieve this growth target, the finalization of the Stream Global TMCC agreement remains uncertain. With this initiative, GoldBod is aligning with a broader regional trend of increased focus on ASM activities amid a sustained rise in gold prices. In July, Côte d’Ivoire also launched a program to strengthen the capacity of its own artisanal mining sector.

Aurel Sèdjro Houenou