The Ghana National Association of Small Scale Miners (GNASSM) has thrown its weight behind the government's initiative to establish the Ghana Gold Board (GoldBod), aimed at formalizing gold trading in Ghana.
According to GNASSM, the current gold trading sector is "very disorganized and informal," resulting in significant revenue losses for the state.
The association believes that the establishment of GoldBod will provide the necessary policy framework to transform the gold trading sector and help the country realize the full potential of the small-scale mining industry.
This development is expected to stabilize the national currency by making GoldBod the sole buyer, assayer, seller, and exporter of gold from legal small-scale miners.
