The CEO of GoldBod, Sammy Gyamfi, says the Damang Mines has sold 100% of its first gold output to the Bank of Ghana and GoldBod to support national reserves.
The Damang mines, linked to businessman Ibrahim Mahama, made the sale in what officials describe as a first-of-its-kind move in Ghana’s mining sector.
Mr Gyamfi said the transaction marks a major step in strengthening the country’s gold reserves and improving foreign exchange stability.
He noted that the deal shows strong alignment between private sector activity and national economic goals.
“This is a major milestone for Ghana,” he said, adding that no private mining firm has previously committed its full initial output to state-backed institutions.
He expressed hope that the move will serve as a model for the industry and help boost revenue and economic resilience.
