The Ghana National Association of Small-Scale Miners (GNASSM) has cautioned Parliament to protect recent gains made in the domestic gold market and resist efforts that could undermine the progress through external influence or short-term political interests.

The warning follows a recent press conference by the Minority in Parliament, during which concerns were raised about aspects of the national gold trading programme.

In a statement issued on Thursday, January 1, 2025, GNASSM expressed concern that the growing political debate around the programme is having negative effects on the sector and distracting miners from their role in supporting the national economy.

“GNASSM urges all political actors to safeguard the hard-won gains made in the artisanal and small-scale mining (ASM) gold trade rather than undermine them for short-term political interests,” the association said.

GNASSM maintained that the current gold trading system has been effective, pointing to key reforms such as the exclusion of foreign traders from direct participation, increased support for small-scale miners, competitive and real-time pricing, and improved market transparency, all of which it says favour local miners.

The General Secretary of the association, Godwin N. Amarh, noted that the structure of Goldbod has strengthened Ghana’s capacity to purchase gold locally, helping to curb smuggling and related illegal activities, including money laundering.

He said the increased local control of the ASM gold market is enabling the accumulation of domestic capital and empowering Ghanaians within the small-scale mining space.

“Today, the ASM gold market and the small-scale mining sector are largely controlled by Ghanaians, facilitating domestic capital formation,” the statement said, adding that this could, in the medium term, support the expansion of small-scale operations into larger mines, with positive implications for economic growth and social development.

GNASSM urged lawmakers to prioritise support for Goldbod and related institutions to help strengthen Ghana’s foreign exchange reserves, rather than engage in debates that could destabilise the market.

The association called for a united political front focused on consolidating reforms in the gold sector, stressing that miners and legitimate traders should be allowed to operate within the existing orderly and transparent framework for the benefit of the nation.