The Ghana Gold Board (GoldBod) has deepened its gold reserve accumulation strategy with the acquisition of 121 kilograms of gold from Damang Gold Mines Limited, marking another step in efforts to retain more value from Ghana’s mineral resources within the domestic economy.
The transaction, completed at the GoldBod Assay Centre at the Accra International Airport, represents the second major purchase under the Board’s ongoing gold aggregation programme aimed at strengthening national holdings and improving value retention from the mining sector.
Under the arrangement, Damang Gold Mines Limited sold 100 per cent of its latest gold output directly to GoldBod, reinforcing what officials describe as a growing shift towards structured local gold procurement and state-linked reserve build-up.
Receiving the consignment on behalf of GoldBod, the Director for Technical, Mr. Michael Arko, commended the management of Damang Gold Mines and the Chairman, Dr. Ibrahim Mahama, for their continued confidence in the Board and its operations.
He noted that sustained cooperation from mining companies remains central to GoldBod’s objective of consolidating Ghana’s position in the global gold value chain while ensuring that a greater share of the resource benefits the national economy.
Officials of Damang Gold Mines also reaffirmed their commitment to supplying their full gold output to GoldBod, describing the arrangement as a practical demonstration of the benefits of stronger local participation in the mining sector.
The latest transaction adds momentum to GoldBod’s reserve accumulation drive, which is increasingly positioning the Board as a key domestic buyer in Ghana’s gold market, with broader implications for foreign exchange stability and resource governance.
