The Ghana National Association of Small Scale Miners (GNASSM) has urged both the Majority and Minority caucuses in Parliament to protect gains made in the artisanal and small-scale mining (ASM) gold sector, cautioning against disruptions motivated by short-term political interests or external influence.
In a statement issued on Wednesday, January 1, 2026, and signed by its General Secretary, Godwin N. Amarh, the Association stressed that ASM gold trading should not be judged purely on annual profit-and-loss outcomes, but on its wider economic, social and governance impact.
GNASSM pointed out that under the previous administration, 63.6 metric tonnes of ASM gold were exported in 2024 through the Gold-for-Oil and Gold-for-Reserves programmes, a period during which the Bank of Ghana recorded financial losses. Similarly, under the current Mahama administration, the Association noted that ASM gold exports had reached 101 metric tonnes as of December 23, 2025, while the central bank again posted losses.
According to GNASSM, these trends underscore the limitations of assessing ASM gold trading solely through narrow accounting metrics.
“ASM gold trading cannot be evaluated on a single-year profit-and-loss basis. Its broader macroeconomic, social and governance benefits must be fully considered,” the statement said.
The Association commended the Mahama government for establishing the Ghana Gold Board (GoldBod), describing it as a key institutional reform that has introduced a credible and structured gold acquisition system. GNASSM said GoldBod has formally recognised the contribution of ASM gold to the national economy, excluded foreign buyers from direct trading, and ensured continuous engagement with small-scale miners in policy formulation and programme design.
It further noted that GoldBod’s support for capacity building in sustainable mining practices, traceability and environmental stewardship has strengthened governance within the sector.
GNASSM also praised the Board’s transparent and competitive pricing framework, which it said protects miners from arbitrary valuations, while its liquidity arrangements ensure the purchase of all legitimately mined gold. These measures, the Association argued, have reduced smuggling and mitigated risks linked to money laundering and terrorism financing.
According to GNASSM, the reforms have helped place control of the ASM gold market firmly in Ghanaian hands, facilitating domestic capital accumulation and creating a pathway for small-scale mining operations to grow into larger, more sustainable enterprises.
