Gold prices gained on Friday, rebounding from a sharp selloff in the previous session, as global equities fell and U.S.-Iran tensions lingered, while the CME Group raised margins on precious metals to counter risk. Spot gold rose 2.6% to $4,893.59 per ounce by 1243 GMT, and U.S. gold futures for April delivery gained 0.5% to …
President John Dramani Mahama has shared Ghana’s experience with the Ghana Gold Board (GoldBod) with the Zambian National Assembly, highlighting its role in strengthening state control over gold exports and significantly boosting foreign exchange earnings. President Mahama made the presentation on Thursday while addressing Zambia’s Parliament during a three-day State Visit to the country at …
The Ghana Gold Board(GoldBod), in partnership with Gold Coast Refinery, has commenced the local refining of gold from the artisanal and small-scale mining (ASM) sector, marking a major milestone in Ghana’s drive for value addition, formalisation and economic transformation. The start of local refining was highlighted during a tour of the Gold Coast Refinery led …
The Ghana Integrated Iron and Steel Development Corporation (GIISDEC) has engaged the Embassy of the Republic of Turkey to explore lessons from Turkey’s scrap industry as Ghana prepares to roll out its scrap implementation policy. The Chief Executive Officer of GIISDEC, Williams Okofo-Dateh on Tuesday (3 February), led a delegation from the Corporation on a …
Ghana’s artisanal and small-scale mining (ASM) sector continues to record increasing gold exports, but public revenues generated from the sector remain comparatively low, raising concerns about governance effectiveness and revenue leakages. In response to the widening gap between export growth and domestic revenue mobilisation from ASM, the Africa Centre for Energy Policy (ACEP) convened a …
Ghana is set to showcase its investment-ready mining projects at this year’s Mining Indaba, scheduled for February 9 to 12 in Cape Town, South Africa, the Chief Executive Officer of the Minerals Commission, Isaac Tandoh has announced. Speaking ahead of the event, the CEO said the Ghana Pavilion will provide a platform for investors, policymakers, …
The African Minerals Development Centre (AMDC) has officially launched the South Africa African Minerals Governance Framework (AMGF) Assessment Report, a comprehensive study aimed at strengthening governance and sustainability in the country’s mining sector. The report was produced in partnership with Expertise France and South Africa’s Department of Mineral and Petroleum Resources. It serves as a …
Tanzania plans to sell part of it gold reserves to finance spending on infrastructure projects, as it faces reduced donor funding amid a broader shift away from development aid. President Samia Suluhu Hassan instructed the central bank to proceed with a partial sale of its gold holdings, Minister of State in the President’s Office Kitila …
Gold extended its blistering rally on Thursday to hit a record just shy of $5,600 an ounce, as investors sought safety amid geopolitical and economic uncertainties, while silver came within a whisker of breaching $120. Spot gold shot up 2.6% to $5,538.69 an ounce by 0349 GMT, after hitting a record $5,591.61 earlier in the …
The Ghana National Association of Small-Scale Miners (GNASSM) has proposed a 2 per cent pricing discount and a new licensing regime as part of measures to discourage gold hoarding and address market distortions within the small-scale mining sector. The proposals are contained in a report presented to the Ghana Gold Board (GoldBod) following nationwide stakeholder …
