PMMC, Sammy Gyamfi, has met Small-Scale Miners, Gold Dealers and Jewellers in Kumasi.
The participants lauded the Goldbod initiative of President John Dramani Mahama as the game-changer urgently required to restructure and streamline the gold trading industry for the optimisation of national benefits across the gold value chain.
A statement issued by the PMMC after the meeting said the draft Bill for the establishment of the Goldbod had gone through extensive stakeholder consultations and had so far received the approval of the Ministry of Finance, Ministry of Lands and Natural Resources and the office of the Attorney-General and Minister of Justice.
“The only approvals outstanding are that of Cabinet and Parliament, which the Ministry of Finance and Technical Committee hope to secure in the next couple of days,” the statement indicated.
The statement further stated that the Goldbod BWill when passed into law, would take over the PMMC as a going concern, albeit with enhanced objects, powers and functions, and shall operate with the primary objective of generating forex for the country and supporting the gold reserve accumulation programme of the Bank of Ghana.
The Goldbod will be the sole authority with the exclusive right to buy, sell and export all the
gold from the Small-Scale Mining Industries, with rights to buy and export a portion or all of the gold produced by large scale mining firms.
gold from the Small-Scale Mining Industries, with rights to buy and export a portion or all of the gold produced by large scale mining firms.
“The Goldbod shall also pursue value addition policies, promote responsible sourcing and traceability, aggressively combat gold smuggling and provide support for Small-Scale Miners in the form of geological investigations, concession viability and equipment financing,” the statement explained.
BY TIMES REPORTER