Finance Minister Dr. Cassiel Ato Forson has revealed a historic surge in Ghana’s gold export earnings from the small-scale mining sector, reporting that the country exported 51.5 tonnes of gold valued at approximately US$5 billion in just the first half of 2025.
Delivering the 2025 Mid-Year Budget Review in Parliament on the theme “Resetting the Economy for the Ghana We Want”, Dr. Forson described the performance as unprecedented. “Simply put, gold exports, in tonnes, from the small-scale mining sector for the first half of 2025 recorded about 100 percent increase over what was recorded in the same period last year,” he stated.
The figure more than doubles the 26.4 tonnes valued at US$1.8 billion recorded over the same period in 2024 — a jump of over 180 percent in export value.
The Finance Minister attributed this remarkable leap to reforms implemented by the newly established Ghana Gold Board (GOLDBOD), which began operations in April 2025. He said the Board had overhauled the licensing regime and introduced an effective gold aggregation system to streamline trade within the artisanal and small-scale mining sector.
“These measures have already yielded tangible economic benefits,” Dr. Forson told Parliament, adding that for the first time in Ghana’s history, gold exports from the small-scale mining sector have outstripped those from the large-scale sector.
He emphasised that this milestone had injected substantial foreign exchange into the economy, strengthened Ghana’s international reserves, improved the balance of payments, and bolstered the local currency.
“Mr. Speaker, this tells a story. A story of a country which has been denied the full benefits of its gold resources,” he said. “A story of a country where illegal gold trade and smuggling had been allowed to fester to the detriment of the wellbeing of the people.”
To address this long-standing issue, Dr. Forson announced that President John Dramani Mahama inaugurated a special task force on July 8, 2025, to combat illegal gold trading and smuggling operations.
He warned that the government would show zero tolerance to any individual or entity involved in illicit gold trading. “We will deal ruthlessly with anyone found engaging in illegal gold trade and smuggling, as these nation-wrecking activities sabotage the progress of the people,” he declared.
The surge in small-scale gold exports and the government’s aggressive push to formalise and protect the sector marks a significant shift in Ghana’s resource governance agenda and a strategic effort to unlock the country’s full mining potential.
