The Damang Gold Mine has delivered 100 percent of its gold production to the Ghana Gold Board (GoldBod), reinforcing efforts to strengthen Ghana’s economic value retention strategy in the mining sector.
The latest delivery marks the second time the mine has supplied its entire output to the state agency.
Speaking during a presentation ceremony on Monday, May 18, 2026, the Technical Director of GoldBod, Michael Arko, commended the management of Damang Gold Mine and its parent company, Engineers and Planners, led by business mogul, Mr. Ibrahim Mahama, for their confidence in the government’s national gold policy.
He disclosed that the latest consignment amounted to 121 kilograms of gold, equivalent to about 3,400 ounces, surpassing the previous delivery of 103 kilograms made during the first transaction with GoldBod.
“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,” he added.
Arko explained that government policy encourages large-scale mining companies to supply between 20 and 30 percent of their gold production to the state to help Ghana retain more value from its mineral resources and strengthen the economy.
He urged other mining companies to emulate the Damang Gold Mine’s example.
“If all the other mining companies follow this good example, it will do well for our economy,” he stated.
Also speaking to the media, lawyer for Damang Gold Mine, Bobby Banson, said the company’s decision to supply its entire gold production to GoldBod reflects its commitment to Ghana’s economic development.
He dismissed claims that the mine’s earlier delivery was a one-off gesture, stressing that the latest transaction demonstrates a sustained commitment to supporting the Ghanaian economy.
“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,” Banson said.
He added that if more large-scale mining companies prioritised national interest over profit, the economy would become more sustainable and beneficial to citizens.
Lawyer Banson also reaffirmed the company’s pledge to continue offering GoldBod the right of first refusal for future gold production, provided the institution has the financial capacity to purchase it.
“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,” he said.
Source: Kwadwo Baffour Atuahene
