The Ghana Gold Board (“GoldBod”) has rejected claims by Asaaseradio alleging that the Board suffered losses exceeding GH¢3 billion in its first year of operations.
Describing the report as “entirely false and deliberately contrived,” GoldBod said the allegations were intended to undermine the Board’s achievements and its contributions to Ghana’s economic revitalization.
Contrary to the claims, the Board has consistently recorded substantial surpluses since its inception. GoldBod confirmed that its upcoming quarterly financial statements, to be published on its official website, will reflect these positive results.
In a statement, the Board urged the public to regard the Asaaseradio report with “utmost contempt” and called on the station’s management to retract the publication and issue a full apology to Ghanaians for spreading misleading information.
GoldBod reaffirmed its commitment to transparency, accountability, and the continued support of Ghana’s economic growth.
Earlier, Asaase radio reported that GoldBod recorded an estimated GH¢3 billion in losses within its first year of operation under the new gold aggregation and export regime.
It said checks made suggest that GoldBod is estimated to be losing an average of GH¢8,000 per ounce of gold (approximately $25,900 per kilogram). This includes the logistics cost, the assay difference, and the FX fluctuation.
This does not mitigate the fact that GoldBod’s introduction has been hailed as structurally positive for Ghana’s management of its mineral resources.
