Ghana’s Gold Board (GoldBod) has posted one of its strongest quarterly performances yet, with gold exports for the third quarter of 2025 hitting a combined US$5.1 billion.
The figures are largely driven by both artisanal and large-scale mining operations which reinforce gold’s position as Ghana’s most reliable export earner and a critical buffer for external revenues.
Goldbod, or the Ghana Gold Board, is the sole authority in Ghana with exclusive rights to buy, sell, weigh, grade, assay, value, and export gold and other precious minerals. It was established to formalize the gold trading sector, particularly from small-scale mining, to combat illegal mining and smuggling. GoldBod’s activities include ensuring transparency and responsible sourcing, which is expected to improve foreign exchange earnings and promote value addition in the gold sector.
GoldBod holds the exclusive rights for all legal activities related to gold trading, from buying and selling to weighing, assaying, and exporting.
According to the GoldBod’s published statutory report for July to September 2025, it generated GH¢691.14 million in total revenue.
After spending GH¢53.98 million during the quarter, the Board recorded a net comprehensive income of GH¢637.39 million. It closed the period with GH¢1.12 billion in cash and bank balances – financial position that signals rising financial stability in its early operational years.
A major driver of revenue was work with the artisanal and small-scale mining (ASM) sector. Assay services contributed GH¢244.73 million, while service charges from its gold-buying arrangement with the Bank of Ghana accounted for GH¢386.62 million.
GoldBod’s operational output was equally robust. It purchased 26,153.98 kilograms of gold from ASM miners—valued at US$2.76 billion—as part of ongoing efforts to formalize and streamline the small-scale mining value chain.
In support of national reserves, the Board also procured 119.78 kilograms of gold from large-scale producers for the Bank of Ghana, worth US$11.82 million.
Gold exports maintained strong momentum through the quarter: 25,780.60kg exported by ASM operators amounting to US$2.71 billion. 24,911.21kg on the other hand was exported by large-scale mining firms to the tune of US$2.43 billion.
These exports totalled US$5.1 billion, making gold the anchor of Ghana’s external trade earnings.
In addition to gold, the Board facilitated the export of 11,271.59 carats of diamonds, valued at US$4.19 million. This strong third-quarter performance has generally been marked by rising exports, revenue growth and strengthened reserve contributions and positions Ghana’s gold sector as a stabilizing force for the broader economy amid persistent fiscal and external pressures.
Additional Source: CitiNews Ghana
