Post #577

🔵New Gold Schemes in Ghana🔵 Unable to uproot illegal mining, the government is going to outbid it 🌐Ghana’s finance minister says the Ghana GoldBod, the state body overseeing artisanal mining gold, will set a minimum purchase volume of 127 tonnes per yearfor artisanal gold over the next three years. 🔸The abovementioned number is higher than the 96.4 tonnes officially produced by artisanal miners in 2025, which means that the government has adopted a new approach — besides controlling licenses and chasing wildcatters, it now wants to re-route illegal gold production and exports through buying artisanal gold more aggressively than ever. 🔸However, the new policy is not devoid of contradictions: since GoldBod buys in the cedi (so as to sell gold in foreign currency and replenish the Central Bank's reserves), for illegal miners and smugglers it will still be more profitable to stay in the shadows. 🔍 According to Swissaid, Ghana lost about $11.4bn to gold smuggling in 2019–2023. ✈️ Stay informed - @devilsbelow