GoldBod Targets Another Record Gold Year | Ghana’s Gold Board (GoldBod) purchased up to 54 metric tons of gold from the artisanal and small-scale mining (ASM) sector during the first half of 2026, putting the country on course to match or even exceed last year’s record production.
GoldBod Chief Executive Officer Samuel Gyamfi announced the figures on Tuesday, saying the board has bought between 50 and 54 metric tons of gold so far this year. He added that current production trends point to another record-breaking year for the ASM sector.
“If the current pace continues, we are likely to match or even surpass last year’s output,” Gyamfi said.
The strong performance reinforces Ghana’s position as Africa’s leading gold producer. It also strengthens the country’s largest export sector, which remains a key source of foreign exchange and economic recovery.
Last year, Ghana’s artisanal and small-scale mining sector produced a record 104 metric tons of gold. For the first time, the sector outperformed large-scale mining following reforms aimed at reducing gold smuggling and increasing official gold exports.
According to Gyamfi, the ASM sector generated nearly $11 billion in foreign exchange earnings in 2025. By comparison, large-scale mining contributed about $9 billion during the same period.
However, GoldBod expects lower-than-projected earnings this year because global gold prices have declined from earlier highs. The board based its 2026 projections on an average gold price of about $5,000 per ounce and weekly purchases of approximately 2.5 metric tons.
Despite the price correction, Gyamfi remains optimistic about the sector’s outlook. He explained that average gold prices still exceed 2025 levels, even though they have fallen short of GoldBod’s initial expectations.
As a result, Ghana is still on track to earn more from gold exports in 2026 than it did last year. Continued strong production from the ASM sector is expected to offset the impact of lower bullion prices while sustaining foreign exchange inflows into the economy.
The latest figures highlight the growing importance of Ghana’s artisanal and small-scale mining industry, which continues to drive gold production, boost export earnings and support the country’s economic recovery.
GoldBod Targets Another Record Gold Year | AviationGhana
