GoldBod Buys 121kg Gold from Damang Mines
Damang Gold Mines Limited has once again sold 100 percent of its gold output to the Ghana Gold Board (GoldBod), reinforcing growing collaboration between the state agency and large-scale mining companies in Ghana.
The latest transaction took place on May 18, 2026, at the GoldBod Assay Centre at the Accra International Airport, where Damang Gold Mines delivered 121 kilograms of gold to the Board.
Receiving the gold on behalf of GoldBod, the Director for Technical, Mr. Michael Arko, expressed appreciation to the Chairman of Damang Gold Mines Limited, Dr. Ibrahim Mahama, and the management of the company for their continued confidence in the Board.
According to Mr. Arko, the transaction represents another significant step toward strengthening Ghana’s gold purchasing regime and ensuring that greater value from the country’s mineral resources is retained locally.
“We are grateful to the management of Damang Gold Mines for once again choosing to sell their entire output to GoldBod. This transaction will contribute significantly to Ghana’s economy and help strengthen value retention within the gold sector,” he stated.
He further called on other large-scale mining companies operating in Ghana to emulate the example set by Damang Gold Mines by increasing the proportion of gold sold to the state.
The Director noted that deeper collaboration between GoldBod and large-scale miners would support government’s efforts to accumulate gold reserves, generate foreign exchange, and enhance economic stability.
Officials of Damang Gold Mines Limited, on their part, reaffirmed the company’s commitment to continue supplying 100 percent of its gold output to GoldBod.
According to them, while some observers initially viewed the company’s first transaction with GoldBod as temporary, Damang Gold Mines remains committed to sustaining the arrangement as part of its contribution to Ghana’s economic development.
They described the partnership as one of the benefits of having a Ghanaian-owned entity operating within the country’s mining sector, emphasizing the company’s determination to support national interest through its operations.
The company also assured GoldBod of its readiness to continue the transactions as long as the Board remains positioned to purchase the gold output.
The latest sale further strengthens GoldBod’s ongoing drive to increase local participation in Ghana’s gold trade and expand state gold purchases under government’s broader economic and reserve accumulation agenda.
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