The Ghana Gold Board (GoldBod) says its intensified nationwide crackdown on illegal gold trading has led to the recovery of GH¢3,036,990 in cash, according to its 2025 third-quarter report.

The operation also uncovered significant sums of foreign currency, including US dollars, CFA francs and Moroccan dirhams. Officials further seized gold doré, gold dust, mercury, firearms, mobile phones and forged documents believed to be connected to unregulated gold-trading networks.

Investigations have revealed the involvement of foreign nationals from the United States, Morocco and Burkina Faso, raising concerns about cross-border participation in illicit mining and gold smuggling. GoldBod is also probing whether some Tier 2 licence holders may have aided or enabled unlicensed operators.

The agency’s Legal Directorate is currently pursuing 20 active cases linked to illegal gold trading. These include 10 cases under investigation, six suspects granted bail, one suspect granted court bail, one case awaiting trial, one case under police inquiry and one suspect who has been deported.

GoldBod’s statutory report also highlighted gains in gold aggregation, exports, reserve accumulation and regulatory activities between July and September 2025.

During the quarter, the Board aggregated 26,153.98 kilograms of gold from the Artisanal and Small-Scale Mining (ASM) sector, valued at US$2.76 billion, as part of efforts to formalise and strengthen the ASM value chain. It also advanced Ghana’s reserve strategy by purchasing 119.78kg of gold worth US$11.82 million from large-scale miners for the Bank of Ghana.

Exports remained robust, with ASM operators shipping 25,780.60kg of gold valued at US$2.71 billion, while large-scale producers exported 24,911.21kg worth US$2.43 billion.

On the regulatory front, GoldBod processed 577 licences under its newly introduced tiered system aimed at tightening compliance and supporting legitimate operators. The approvals included 432 Tier 2 licences, 123 Tier 1 licences and 22 authorisations for self-financed aggregators. The Board additionally suspended two licences and revoked one, reinforcing its drive to sanitise the gold-trading sector and promote responsible mining practices.