GoldBod Engages Licensed Traders to Boost Transparency in Artisanal Gold Trade
The Ghana Gold Board (GoldBod) has met with licensed gold traders to strengthen transparency, fairness and best practices in Ghana’s Artisanal and Small-Scale Mining (ASM) gold sector.
The engagement forms part of GoldBod’s ongoing efforts to align local trading practices with international and industry standards.
The goal, the Board says, is to protect value for miners, traders and the Ghanaian economy.
Key measures agreed during the engagement include the adoption of the London Bullion Market Association (LBMA) pricing formula and trading window.
The GoldBod says the move will promote fair and transparent gold pricing across the ASM space.
The Board will also require that all gold transactions be recorded and booked within the approved LBMA pricing window.
The measure is intended to strengthen accountability and improve market confidence in Ghana’s gold trade.
GoldBod reiterated its commitment to building a responsible ASM gold sector that protects Ghanaian miners, promotes ethical trading, and positions the country’s gold industry for stronger participation in global markets.
The ASM sub-sector accounts for a significant share of Ghana’s gold output and employment. Aligning it with LBMA standards is expected to reduce pricing disputes, curb leakages, and make Ghanaian gold more competitive internationally.
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