Ibrahim Mahama’s Damang Gold Mine Limited sells 100% of its first gold output to GoldBod, BoG in historic move
30th April, 2026
In a bid to support foreign reserves accumulation, Ibrahim Mahama’s Damang Gold Mine Ltd. has sold 100% of its first gold output to the Ghana Gold Board.
The Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi esq., received a team from Damang Gold Mine led by Mr. Ibrahim Mahama at the GoldBod Assay Laboratory in Accra earlier today, where he briefed the media about the historic transaction.
He noted that having Ghanaians at the helm of the country’s minerals and mining sector is key to maximizing national benefits, local value retention and economic transformation.
The Chief Executive Officer bemoaned the low contribution of large-scale mining companies to foreign reserve accumulation efforts of government and urged other large-scale mining companies to emulate the good example set by the Damang Gold Mine. This he said is imperative for the actualization of the objects of the Ghana Accelerated National Reserve Accumulation Program (GANRAP) launched by government and approved by Parliament.
The first output of the Damang Gold Mine delivered to the GoldBod today is about 110KG. The gold will be assayed, valued and purchased by the GoldBod for and on behalf of the Bank of Ghana, refined and added to the Central Bank’s gold holdings.
#GoldBod #BankOfGhana #GhanaGold #EconomicStability #LocalValueAddition
Ibrahim Mahama’s Damang Gold Mine Limited sells 100% of its first gold output to GoldBod, BoG in historic move
In a bid to support foreign reserves accumulation, Ibrahim Mahama’s Damang Gold Mine Ltd. has sold 100% of its first gold output to the Ghana Gold Board.
The Chief Executive Officer of the Ghana Gold Board, @SammyGyamfi_ , received the team from Damang Gold Mine at the GoldBod Assay Lab at the Accra International Airport earlier today, where he briefed the media about the historic transaction.
He noted that having Ghanaians at the helm of the country’s minerals and mining sector is key to maximizing national benefits and driving economic transformation.
The Chief Executive Officer bemoaned the low contribution of large-scale mining companies to foreign reserve accumulation efforts of government and urged other large-scale mining companies to emulate the good example set by the Damang Gold Mine. This he said is imperative for the actualization of the objects of the Ghana Accelerated National Reserve Accumulation Program (GANRAP) launched by government and approved by Parliament.
The first output of the Damang Gold Mine delivered to the GoldBod is about 110KG. The gold will be assayed, valued and purchased by the GoldBod for and on behalf of the Bank of Ghana, refined and added to the Central Bank’s gold holdings.
#GoldBod #BankOfGhana #GhanaGold #EconomicStability #LocalValueAddition
King Charles has been a triumph on this US trip.
His speeches yesterday were the most brilliant act of much-needed diplomacy that I can remember in a long time. He was charming, funny, courageous, and reminded everyone why the Monarchy remains one of Britain’s greatest assets.
KEY TAKEAWAYS FROM THE 2025 AUDITED FINANCIALS OF THE GOLDBOD
It is instructive to note, that despite the GoldBod’s revenue growing exponentially from 307.7 million in 2024 to 970.8 million in 2025, expenditure declined from 129.7 million in 2024 to 109.4 million in 2025.
The reduction in expenditure was in spite of the substantial expansion of the staff strength and mandate of the GoldBod as compared to the defunct PMMC.
For instance, whereas the defunct PMMC had a total workforce of 114 in 2024, the GoldBod maintained a total workforce of 450 in the year 2025, yet managed to keep expenditure at relatively lower levels through fiscal prudence that delivered a total operational (non-tax) surplus of 909.7 million.
Minister for Energy and Green Transition has asked the CEO of GRIDCo to step aside pending investigations into fire incident at Akosombo power control center.
Also, there has been a major shake up in the leadership of the ECG in the Ashanti Region.
At 2pm tomorrow, Minister for Energy and Green Transition, Hon John Jinapor, will hold a major briefing on recent developments in electricity distribution.