The Ghana Gold Board (GoldBod) is expected to award a contract for its gold traceability system next week, paving the way for licensed small-scale miners and companies to be onboarded onto the platform before the end of 2026.
Chief Executive Officer of GoldBod, Sammy Gyamfi, disclosed this in a journalists, where he discussed efforts to strengthen responsible gold sourcing and address environmental concerns associated with artisanal and small-scale mining (ASM).
According to Mr Gyamfi, the Central Tender Review Board Committee has considered the evaluated tenders, bringing the procurement process close to completion.
The proposed blockchain-based system will track gold from its mine of origin through custody, aggregation and processing to its eventual purchase and export.
“The GoldBod track-and-trace system will help establish a verifiable record of gold from its legitimate source through various custody points in the aggregation network,” he said.
The system is expected to help GoldBod identify the origin of gold purchased through licensed buyers and distinguish responsibly sourced gold from supplies potentially linked to illegal mining in water bodies and forest reserves.
Miners and other supply-chain participants will be required to bag and tag gold at designated custody points to enable its movement to be tracked.
Mr Gyamfi said the system could also improve Ghanaian producers’ access to international markets, including Dubai, India and markets served by the London Bullion Market Association (LBMA), potentially increasing the value and foreign exchange earnings from gold exports.