The Ghana Gold Board (GoldBod) has signed a US$1 billion Memorandum of Understanding (MoU) with Goldstream Global DMCC to establish over 300 responsible mines across the country.
The MoU, which is expected to transform into a commercial agreement by November 2025, will focus on developing blocked-out mineralised areas in collaboration with concession owners.
Announcing the signing at the maiden Mining and Minerals Convention on September 8, 2025, the CEO of GoldBod, Sammy Gyamfi, stated that the initiative will promote sustainable mining and maximise Ghana’s gold output with the support of the Ministry of Lands and Natural Resources and its relevant agencies.
“Under this program, GoldBod will collaborate with the Ministry of Lands and Natural Resources and its allied agencies, such as the Minerals Commission of Ghana, to develop mineralised areas. We will also partner with concession owners and local communities to maximise Ghana’s gold output through sustainable mining,” he said.
He also announced a new Mining Support Program aimed at creating jobs for the youth and boosting mining activities nationwide.
Sammy Gyamfi to deliver strategic gold sector outlook at mining and Minerals Convention 2025
“This crucial Mining Support Program (MSP) will increase national gold output and create thousands of jobs within the mining ecosystem for our teeming unemployed youth. The Minerals Commission has released ten blocked-out mineralised areas to GoldBod for this program and has pledged to release more in the coming weeks,” he added.
The new mines announced by Sammy Gyamfi will be established in blocked-out mineralised areas that have remained untapped for years.
So far, the Minerals Commission has released ten such areas to GoldBod for the first phase of the initiative.
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