Small-Scale Gold Exports Generates US$8 Billion in Foreign Exchange – GoldBod
Ghana’s small-scale mining sector continues to prove its economic worth as the Ghana Small-Scale Miners Gold Exporters Association (GoldBod) reports a staggering 81,719 kilograms of gold exported as of October 15, 2025. The exports, according to the association, have generated an impressive US$8 billion in foreign exchange earnings for the country, marking one of the strongest performances by the artisanal mining industry in recent years.
GoldBod, the umbrella body for licensed small-scale gold exporters and miners, disclosed that the figures represent a sharp rise compared to the same period in 2024, attributing the surge to tightened regulatory measures, improved traceability systems, and stronger collaboration between miners, government, and international buyers.
In a statement, the association’s leadership commended the resilience and compliance of small-scale miners who have transitioned from informal operations to fully licensed and responsible mining practices. “This milestone is not just about numbers; it reflects a shift in perception, small-scale miners are now recognized as credible contributors to Ghana’s economy,” GoldBod noted.
The group also praised the Minerals Commission and the Precious Minerals Marketing Company (PMMC) for streamlining the export certification process and ensuring transparency in gold trading. Over the past two years, Ghana has implemented stricter export documentation standards and digital tracking systems aimed at curbing smuggling, which had previously cost the country billions in lost revenue.
Experts say this remarkable export performance reinforces Ghana’s position as one of Africa’s leading gold producers and a model for responsible artisanal mining. The sector, which employs over one million Ghanaians directly and supports about five million indirectly, has been identified as a critical pillar in stabilizing the cedi and boosting fiscal reserves amid global economic pressures.
Economists also believe that the surge in small-scale exports could help narrow Ghana’s trade deficit and strengthen foreign reserves, especially at a time when the country is working to balance debt obligations and fund infrastructural development.
GoldBod, however, cautioned that sustaining this momentum will require consistent government support, access to finance for small-scale operators, and enforcement of environmental regulations to ensure that productivity does not come at the cost of ecological degradation.
With two and a half months to close the year, the association remains optimistic that 2025 could end as a record-breaking year for Ghana’s small-scale gold industry — one that redefines the narrative from illegal mining to a thriving, structured, and responsible economic force.
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