The Ghana National Association of Small Scale Miners (GNASSM) is calling on politicians to safeguard the progress made in the artisanal and small-scale mining (ASM) gold sector.
In a statement released in Accra on Thursday, January 1, 2026, and signed by its General Secretary, Godwin Nickleson Armah, the association emphasised that despite the losses incurred by the Bank of Ghana in Artisanal Small Scale Mining (ASM) gold trading in 2024 and 2025, the gains made so far are enormous and impactful on the Ghanaian economy.
“GNASSM wishes to place on record that under the previous administration, when the Gold‑for‑Oil and Gold‑for‑Reserves programmes were rolled out, data from the Precious Minerals Marketing Company (PMMC) indicated that in 2024, 63.6 metric tons of ASM gold were exported, and in that same year the Bank of Ghana recorded losses. Under the current administration, through the Domestic Gold Purchase Programme, 101 metric tons of ASM gold had been exported as of 23rd December 2025, and the Bank of Ghana has also recorded losses. These figures show clearly that ASM gold trading cannot be assessed solely on a narrow accounting basis of profit and loss in a single year. Its broader macroeconomic, social, and governance benefits must be taken into account”, the statement in part read.
The association commended the establishment of the Ghana Gold Board (Goldbod) and its efforts to sanitise downstream gold trading, exclude foreigners from direct trading, and provide fair market prices for miners.
GNASSM warned against politicising the sector, urging politicians “to support the Goldbod and allow miners to operate within the existing framework”.
“We know that parliamentarians are fully aware of the object and mandate of the Goldbod and are also aware of the non-partisan approach you all used in passing the Ghana Gold Board Act. We therefore don’t expect a debate at this stage, but rather support for building the Gold trading and related sector. We also expect a united front that focuses on support to the Goldbod and other institutions to address our foreign exchange and reserves needs to give us the space to develop Ghana, the statement further noted.
The ASM sector contributes significantly to Ghana’s economy, with 101 metric tons of gold exported in 2025, despite Bank of Ghana losses.
GNASSM emphasised that the sector’s growth will strengthen the national economy and improve social conditions for Ghanaians, cautioning that negative criticisms hurt the market.
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