Ghana’s Gold Board purchased up to 54 metric tons of gold from artisanal and small-scale miners in the first half of 2026. The sector is on track to match or exceed last year’s historic production.
Gold Board Chief Executive Officer Samuel Gyamfi announced on Tuesday that the West African country’s small-scale sector remains highly productive. At this pace, full-year output should comfortably rival the record 104 tons established in 2025.
The sustained production volume is helping secure vital foreign exchange inflows. The state’s balance sheet is strengthening as the West African nation emerges from its worst financial crisis in decades.
Last year marked a massive shift when small-scale mining output officially overtook multinational industrial output. Artisanal operations generated $11 billion in forex earnings, compared to $9 billion from large-scale mining.
These gains stem from formalization policies designed to reduce smuggling. The Gold Board relies on a structured, licensed buyer network to draw small-scale gold into official state reserves.
While recent global gold price declines have slightly compressed earnings expectations, total export values remain high. Average bullion prices sit above 2025 baselines, neutralizing the impact of the correction.
Further policy adjustments are underway to maximize the state’s bullion holdings. The government initiated a mandatory requirement on July 1 forcing large-scale miners to sell 30% of their output to the state.
