In a significant boost to the state's domestic mineral retention strategy, the Damang Gold Mine has successfully traded its second consecutive haul of refined bullion to the Ghana Gold Board (GoldBod), representing 100 per cent of its total operational output.

The latest transaction, valued at 121 kilogrammes of gold (approximately 3,400 ounces), was processed at the GoldBod Assay Laboratory in Accra on Monday, 18 May 2026.

This latest delivery marks an upgrade from the company’s inaugural transaction with the national regulator, which stood at 103 kilogrammes, solidifying Damang's position as the leading corporate supporter of the state's local gold-purchase framework.

Receiving the precious minerals for testing and storage, the Technical Director of GoldBod, Mr Michael Arko, highly commended the management of Damang Gold Mine and its parent company, Engineers and Planners, a wholly Ghanaian-owned conglomerate, for demonstrating unparalleled confidence in the government’s national gold policy.

“Today marks a very significant and refreshing moment for us at Ghana GoldBod,” Mr Arko stated during an inspection of the bullion bars. “This is the second time Damang Gold Mine is delivering 100 per cent of its gold production to the Ghana Gold Board, and we highly commend the management for supporting the national policy.”

Mr Arko explained that under current state guidelines, large-scale mining firms are gently pushed to supply between 20 and 30 per cent of their gold production to the state to help Ghana retain more value from its mineral resources and strengthen the local currency.

By volunteering 100 per cent of its resource base, Damang has far exceeded the state's minimum threshold.

The regulatory chief used the high-profile transaction to challenge major foreign-dominated mining firms operating in the Wassa and traditional mining belts to re-align their export strategies with the national interest.

“If all the other mining companies follow this good example, it will do well for our economy,” Mr Arko urged, stressing that local participation in the gold trade is non-negotiable for post-recovery stability.

The transaction also carried deep political and corporate significance. Following Damang’s first sale, critics within the mining sector had downplayed the partnership as a public relations stunt rather than a sustainable commercial choice.

Speaking to journalists at the laboratory, Mr Bobby Banson, the legal representative for Damang Gold Mine, forcefully rejected those narratives. He noted that the consistency of the mining firm proves its loyalty to national development.

“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,” Mr Banson declared.

The 121kg consignment has since cleared the requisite purity and weight verifications at the state assay facility, moving straight into the national reserves to anchor the state's economic transformation agenda.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Tags:

Damang Gold Mine Sells 100% of Its Gold to Ghana Gold Board

Suggested for you

More Stories

Mahama removes himself over Damang Mine deal – Kwakye Ofosu rejects Ibrahim state capture claim

Neymar in Brazil's 26-man World Cup squad

Manchester City preparing for Guardiola departure

Defence Ministry Is In Safe Hands Despite No Minister - Felix Kwakye Ofosu

Why Ghana Has No Defence Minister Yet - Felix Kwakye Ofosu Says Mahama Is Not Rushing

Sam George asks AG to investigate $3.4m paid for CSA building

Discussion