Omanghana
A delegation from the United States Department of the Treasury and the Economic Section of the US Embassy in Accra has visited the Ghana Gold Board to discuss the country’s ongoing reforms in the gold sector.
The meeting took place at GoldBod on Friday, September 18, 2026, and focused on Ghana’s efforts to strengthen regulation, improve transparency and expand local participation across the precious-minerals industry.
The delegation was received by GoldBod’s Deputy Chief Executive Officer, Richard Nunekpeku; the Director of Responsible Mining, Professor Ishmael Quaicoe; and the Deputy Director of Mining Operations, James German.
During the engagement, Mr. Nunekpeku briefed the visitors on the mandate and operations of GoldBod under the Ghana Gold Board Act, 2025 (Act 1140).
He also outlined the institution’s responsibilities under the Ghana Accelerated National Reserve Accumulation Program, an initiative intended to support the growth of the country’s reserves through the effective management and purchase of locally produced gold.
Discussions covered measures being implemented to improve Ghana’s domestic gold value chain, including plans to expand local refining capacity and reduce the sector’s dependence on the export of unrefined gold.
The two sides also examined ongoing work to reform Ghana’s national gold-assaying system. The changes are expected to improve the accuracy and credibility of gold-quality assessments while strengthening confidence among miners, traders, refiners and investors.
GoldBod further provided an update on plans to introduce a nationwide traceability system capable of tracking gold from its point of production through the trading and export chain.
The proposed system is expected to help authorities verify the origin of gold, improve regulatory compliance and prevent illegally mined minerals from entering the formal market.
The meeting also explored the importance of providing credible and bankable geological assessments to attract responsible investment into Ghana’s mining industry. Such assessments would give potential investors reliable information about mineral deposits and reduce some of the uncertainties associated with exploration and mining projects.
The formalization of the artisanal and small-scale mining sector was another major subject considered during the engagement. Officials discussed measures to bring more miners into the regulated economy, improve access to legitimate markets and strengthen adherence to environmental and operational standards.
Participants also reviewed strategies to curb illicit financial flows within the gold industry. These include stronger oversight of gold transactions, improved documentation and the development of transparent systems for monitoring trade and payments.
Environmental sustainability featured prominently in the discussions, with GoldBod officials briefing the delegation on efforts to reclaim forest landscapes and other areas degraded by mining activities.
The engagement gave the US Treasury delegation a broader understanding of Ghana’s legislative framework and the institutional changes being pursued to improve accountability, transparency and value addition in the precious-minerals sector.
GoldBod’s reforms are also intended to increase Ghanaian participation in the industry, strengthen foreign-exchange earnings and ensure that the country derives greater economic benefits from its gold resources.
Source: Omanghana
