Accra, Ghana – May 18, 2026 – The Damang Gold Mine has once again sold its entire refined gold output, this time a consignment of 121 kilogrammes, to the Ghana Gold Board (GoldBod). This second consecutive 100% transaction underscores the mine’s commitment to Ghana’s domestic mineral retention strategy and follows an initial delivery of 103 kilogrammes, significantly exceeding the state’s recommended 20-30% contribution target for large-scale mining firms.
Boosting Domestic Mineral Retention
The latest haul of gold was processed and verified at the GoldBod Assay Laboratory in Accra on Monday. This move is seen as a critical step in bolstering Ghana’s efforts to retain more value from its rich mineral resources and strengthen the national currency.
Mr. Michael Arko, the Technical Director of GoldBod, lauded the management of Damang Gold Mine and its parent company, Engineers and Planners, a Ghanaian-owned conglomerate. He highlighted their unwavering confidence in the government’s national gold policy as a benchmark for other mining operations.
“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 stated during the bullion bar inspection.
Exceeding State Expectations
Current state guidelines encourage major mining firms to supply a portion of their gold production to the government. However, Damang’s decision to consistently offload its entire output far surpasses these recommendations.
Mr. Arko used the occasion to challenge foreign-dominated mining companies operating in key mining belts to align their export strategies with national interests. He stressed that increased local participation in the gold trade is vital for post-economic recovery stability.
Addressing Skepticism
The consistency of these large-scale sales serves to counter skepticism that emerged after Damang’s first transaction. Critics had previously dismissed the partnership as a mere public relations exercise rather than a sustainable commercial decision.
Mr. Bobby Banson, legal representative for Damang Gold Mine, firmly refuted these claims. He emphasized that the mine’s repeated commitment demonstrates its genuine dedication to national economic 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.
National Reserves and Economic Agenda
The 121kg consignment has successfully passed purity and weight verifications at the state assay facility. It will now be integrated into the national reserves, serving as a crucial asset to support the government’s economic transformation agenda.
Looking Ahead
Damang Gold Mine’s proactive stance sets a significant precedent. Observers will be watching closely to see if other major mining entities in Ghana follow suit, potentially reshaping the nation’s mineral export landscape and strengthening its economic resilience in the coming years.
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