Government, miners sign GANRAP agreement to support gold-based reserve accumulation

Government has reached an agreement with Ghana's large-scale mining companies to implement the Ghana Accelerated National Reserve Accumulation Programme (GANRAP), under which mining companies will sell 30 percent of their gold output to the Ghana Gold Board (GoldBod) for local processing and refining before the gold is added to the country's reserves.

The agreement was formalised through a Memorandum of Understanding involving the Ministry of Finance, the Ministry of Lands and Natural Resources, GoldBod, the Bank of Ghana, and the Ghana Chamber of Mines, representing the participating large-scale mining companies.

The agreement forms part of broader efforts by government to retain greater value from Ghana's gold resources, strengthen foreign exchange reserves, and deepen local value addition in the mining sector.