The National Concerned Association of Small-Scale Miners, Ghana (NCSSMAG), has expressed strong support for the Mahama administration’s decision to create a Gold Board (GOLDBOD) to oversee the gold trade from small-scale miners. This initiative is viewed by the association as a vital step towards achieving fair pricing for miners, curbing exploitative practices by international gold buyers, and maximizing the economic benefits derived from this crucial sector. NCSSMAG president, Michael Kwadwo Peprah, lauded the initiative as a much-needed intervention that addresses long-standing concerns within the small-scale mining industry.
The association particularly commended the transparent and consultative approach adopted by the GOLDBOD Technical Committee, led by Sammy Gyamfi. This approach, according to NCSSMAG, demonstrates the government’s commitment to establishing a fair and well-structured gold trading system. The association emphasized the significance of their earlier recommendations for a more organized gold trading sector, expressing satisfaction that the Mahama government is prioritizing this critical area. The proposed Gold Board represents a significant step towards realizing their vision for a more equitable and sustainable mining industry.
The mandate of the Gold Board extends beyond price regulation. It is envisioned as a comprehensive support system for small-scale miners, offering assistance in various areas. These include concession viability assessments, providing crucial geological data, facilitating access to equipment financing, promoting environmentally sustainable mining practices, and providing concessional financing options. NCSSMAG believes these measures will revolutionize the small-scale mining industry, providing miners with the resources and support they need to thrive. The association anticipates a significant positive impact on the sector, referring to the initiative as a potential “game-changer.”
NCSSMAG also highlighted the current challenges faced by small-scale miners, particularly the limited capacity of the Precious Minerals Marketing Company (PMMC) to effectively compete in the gold-buying market. They attributed PMMC’s limitations to inadequate government funding, forcing miners to rely heavily on foreign buyers. This reliance, according to the association, has resulted in substantial revenue losses for both the miners themselves and the Ghanaian government. The establishment of GOLDBOD is seen as a solution to this challenge, creating a more robust and competitive domestic market for gold.
Given the current economic climate, NCSSMAG urged the Mahama administration and Parliament to prioritize the allocation of sufficient resources to ensure the successful operation of GOLDBOD. They emphasized the potential of the Gold Board to generate significant foreign exchange earnings, which could play a critical role in stabilizing the Ghanaian cedi and revitalizing the national economy. The association believes this initiative is not simply about improving the mining sector, but about contributing to the broader economic recovery of the country. This underscores the urgency and importance of establishing GOLDBOD.
In conclusion, NCSSMAG made a strong appeal for expedited action towards the establishment of GOLDBOD, urging the government to treat the matter with the urgency it deserves. Furthermore, the association called on all stakeholders, including miners, industry experts, and government officials, to unite and support this initiative for the collective benefit of the nation. They portrayed the Gold Board as a crucial step towards a more prosperous and sustainable future for the small-scale mining sector and the Ghanaian economy as a whole, emphasizing the importance of collaborative effort to ensure its success.
