GoldBod insists galamsey will not affect LBMA certification

The Ghana Gold Board (GoldBod) has reaffirmed its commitment to responsible gold sourcing, saying it will not support illegal mining activities that could jeopardise its efforts to obtain certification from the London Bullion Market Association (LBMA).

The Head of Communications for the Board, Prince Kwame Minkah, said the institution’s ambition to meet international standards requires it to ensure that gold purchased and traded comes from legitimate sources.

He explained that the LBMA certification process places emphasis on responsible sourcing, including ensuring that gold is not obtained through activities that violate the law or cause environmental destruction.

“Nobody should fall under any delusion that the CEO of GoldBod, whose institution is aspiring for LBMA Certification, would endorse illegal mining, especially when the prerequisite for LBMA Certification is responsible sourcing,” he said.

Mr Minkah was speaking amid public criticism of GoldBod Chief Executive Officer, Sammy Gyamfi, over comments concerning efforts to formalise unlicensed small-scale miners.

Mr Gyamfi had clarified that his position was to bring eligible miners into a regulated system rather than endorse illegal mining.

Speaking on Channel One TV on Saturday, October 24, Mr Minkah said his comments were intended to reinforce the GoldBod CEO’s position on transitioning eligible miners into lawful operations.

He stressed that the Board’s pursuit of international certification was consistent with its commitment to responsible gold sourcing.

The LBMA is a global authority in the precious metals market, with standards covering gold and silver quality as well as responsible sourcing.