Damang Gold Mine delivers entire gold output to GoldBod again

The Damang Gold Mine has once again delivered 100 percent of its gold production to the Ghana Gold Board (GoldBod), in a move aimed at supporting Ghana’s efforts to retain greater economic value from its mineral resources.

The latest consignment marks the second time the mine has supplied its entire gold output to the state agency.

Speaking during a presentation ceremony on Monday, May 18, 2026, Technical Director of GoldBod, Michael Arko, praised the management of Damang Gold Mine and its parent company, Engineers and Planners, led by businessman Ibrahim Mahama, for backing the government’s national gold policy.

According to him, the latest delivery consisted of 121 kilograms of gold, equivalent to approximately 3,400 ounces, exceeding the previous consignment of 103 kilograms supplied during the mine’s first transaction with GoldBod.

“Today marks a very significant and refreshing moment for us at Ghana GoldBod,” Mr Arko stated.

“This is the second time Damang Gold Mine is delivering 100 percent of its gold production to the Ghana GoldBod, and we highly commend the management for supporting the national policy,” he added.

Mr Arko explained that government policy encourages large-scale mining companies to allocate between 20 and 30 percent of their gold production to the state to help strengthen the economy and improve value retention from Ghana’s mineral resources.

He further urged other mining companies operating in the country to emulate the example set by Damang Gold Mine.

“If all the other mining companies follow this good example, it will do well for our economy,” he said.

Lawyer for Damang Gold Mine, Bobby Banson, also told journalists that the company’s decision to continue supplying its entire gold production to GoldBod demonstrates its commitment to supporting Ghana’s economic growth.

He rejected suggestions that the mine’s earlier delivery was merely symbolic, noting that the latest transaction proves the company’s long-term dedication to the policy.

“For those who thought what we did last time was a nine-day wonder, this is further evidence of the commitment of the mine, wholly owned by a Ghanaian, to support the Ghanaian economy,” Mr Banson stated.

He added that if more large-scale mining firms placed national interest above profit, Ghana’s economy would become more sustainable and beneficial to citizens.

Mr Banson also reaffirmed the mine’s commitment to granting GoldBod the right of first refusal for future gold production, provided the institution has the financial capacity to purchase the output.

“As long as GoldBod has the financial capacity to take it, we will continue to give them the right of first refusal because we want to contribute in our own small way to bringing stability to our economic fortunes,” he said.