The Ghana Gold Board (GoldBod) has signed an agreement with the Ghana Geological Survey Authority (GGSA) to conduct geological investigations in Funsi, Atuna and Bensere East areas.

The project constitutes Phase One of a wider enterprise into mineral exploration across the country.

The cost of the Phase One project of the geological investigation services to be provided by the GGSA is GH¢27.5 million.

It is scheduled to span a four-month period.

A statement by the GoldBod said this was a major step by the institution towards supporting responsible and data-driven mining in the country.

The project, it said, was aimed at generating credible geological data for the establishment of model mines in the country.

The three blocked-out mineralised areas are part of 20 areas released to the GoldBod by the Minerals Commission.

“Through initiatives like this, the GoldBod continues to work towards promoting sustainability, while maximising national gold output for the benefit of Ghanaians,” the statement said.

GoldBod

The GoldBod is a government-owned entity established under the GoldBod Act 1140 of Parliament in March, 2025.

It operates under the Ministry of Lands and Natural Resources, and is authorised to buy, assay, sell and export gold and other minerals produced by licensed artisanal and small-scale miners in the country.

The GoldBod is the sole authority with exclusive rights to buy, sell, weigh, grade, assay, value and export gold and other precious minerals in Ghana.

In January this year, it signed an agreement with Gold Coast Refinery Ltd to refine a tonne (1,000 kilogrammes) of gold each week.

Under the agreement, Gold Coast Refinery was to process gold doré (raw gold) supplied by GoldBod into refined bullion before export, marking a shift from the export of raw gold.

The initiative was intended to boost export earnings, create jobs and support Ghana’s industrialisation agenda through increased local value addition.

Until now, almost all of Ghana’s gold had been shipped abroad in its raw state, with limited local beneficiation, in spite of having a gold refinery located in the country.

The new arrangement was to strengthen the domestic gold value chain and enhance export earnings.