Ghana’s Gold Sector Reinforcement: State Purchases Increase to 30% for Reserve Diversification Accra, Ghana – In a strategic move to bolster its economy and currency, Ghana, Africa’s leading gold producer, has implemented a new policy requiring large-scale mining companies to sell 30% of their gold output to the state-owned Ghana Gold Board (GoldBod) commencing July 1, 2026.
The previous requirement was set at 20%. NUT GRAF: This policy, designed to strengthen foreign reserves, support the cedi, and expand domestic gold refining, reflects Ghana’s growing recognition of gold as a critical reserve asset and its intention to capture more value from its most significant export.
The decision follows a record 6 million ounces of gold production in 2025, with large-scale mines contributing 2. 9 million ounces. Experts view the new gold buying rule as a significant development within the country’s mining sector.
The Africa Business Insider article underscores Ghana’s strategic move to retain more gold within the nation, which is anticipated to bolster its economy and currency.
Additionally, the TimesLive. Co. Za article highlights the government’s goal to secure London Bullion Market Association (LBMA) accreditation for a domestic refinery by 2030, indicating a long-term commitment to the gold industry.
The agreement, brokered through the Ghana Chamber of Mines, was announced last week and covers gold supplied in doré form and semi-refined bars produced before final refining. This revised arrangement is part of Ghana’s broader effort to build a stronger financial buffer following years of economic instability and to position the country as a larger player in the global bullion value chain, rather than merely as a raw gold exporter.
The government has set a target of accumulating up to 157 tons (equivalent to 15 months of import cover) by 2028, a significant increase from the current holdings of 19. 2 metric tons as of February 2026, according to Bank of Ghana data.
The arrangement is also aimed at helping Ghana secure LBMA accreditation for at least one domestic refinery by 2030. Under the scheme, gold will be refined locally before being shipped to an LBMA refinery for melting and stamping, subsequently adding to central bank reserves. GoldBod already purchases the entire output of Ghana’s artisanal gold miners.
The increased purchases are expected to protect the country against external shocks and can be sold abroad to generate dollar income.
The move is seen as a win — win for both the government and mining companies, ensuring the mining sector contributes more significantly to the national economy while providing a stable market for miners. KICKER: As Ghana continues to solidify its position as a key player in the global gold market, the new state buying rule is anticipated to have far-reaching implications for the country’s economic stability and its role in the global gold supply chain.
*Additional reporting by ImNews | Sources consulted: 5*
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This original article was produced by the ImNews editorial team
Source: Africa.businessinsider
Source: Ayodeji Adegboyega
