The Ghana Gold Board has received the second full gold output delivery from the Damang Gold Mine, marking another significant step in Ghana’s efforts to retain more value from its mineral resources and strengthen economic stability.
The latest consignment, presented during a ceremony on Monday, May 18, 2026, consisted of 121 kilograms of gold, equivalent to approximately 3,400 ounces. The delivery exceeded the mine’s previous transaction with GoldBod, which involved 103 kilograms of gold.
Officials say the move reinforces the government’s broader strategy to increase domestic participation and value retention within Ghana’s gold sector.
GoldBod Commends Damang Mine
Speaking at the presentation ceremony, Technical Director of Ghana Gold Board, Michael Arko, praised the management of Damang Gold Mine and its parent company, Engineers and Planners, led by businessman Ibrahim Mahama, for demonstrating confidence in the government’s national gold policy.
“Today marks a very significant and refreshing moment for us at Ghana GoldBod,” Arko said.
“This is the second time Damang Gold Mine is delivering 100 percent of its gold production to the Ghana GoldBod, and we highly commend the management for supporting the national policy.” - Michael Arko
According to Arko, government policy encourages large-scale mining firms to supply between 20 and 30 percent of their gold production to the state in order to strengthen Ghana’s foreign exchange position and improve economic value retention.
However, Damang Gold Mine has gone beyond the minimum threshold by supplying its entire output to the state agency.
Arko urged other mining companies operating in Ghana to follow the same path. “If all the other mining companies follow this good example, it will do well for our economy,” he stated.
Mine Reaffirms Commitment to Ghana
Lawyer for Damang Gold Mine, Bobby Banson, said the latest transaction proves the company’s commitment to supporting Ghana’s economic development and stability.
He rejected suggestions that the mine’s earlier gold delivery had been a temporary or symbolic gesture.
“For those who thought what we did last time was a nine-day wonder, this is further evidence of the commitment of the mine, wholly owned by a Ghanaian, to support the Ghanaian economy.” - Bobby Banson
He argued that greater national value retention in the mining sector would become possible if more mining companies prioritised long-term economic sustainability alongside profitability.
Banson further disclosed that Damang Gold Mine intends to continue giving GoldBod the right of first refusal on future gold production, provided the institution has the financial capacity to purchase the gold.
“As long as GoldBod has the financial capacity to take it, we will continue to give them the right of first refusal because we want to contribute in our own small way to bringing stability to our economic fortunes.” - Bobby Banson
The latest transaction comes amid renewed national debate over resource nationalism, local participation and how Ghana can derive greater economic benefits from its mineral wealth.
READ ALSO: Mahama Pushes Accra Reset Agenda for African Health Sovereignty
