Damang Gold Mine Limited, owned by businessman Ibrahim Mahama, has sold 100% of its first gold output to the Ghana Gold Board (GoldBod) in a move described as historic for the country’s gold sector.
The transaction was formalised earlier today, Thursday, April 30, 2026, when a high-level team from the mine, led by Mr. Ibrahim Mahama, presented the gold to officials of the Ghana Gold Board at the GoldBod Assay Laboratory in Accra.
Speaking to the media after receiving the consignment, the Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi Esq., commended the Damang Gold Mine for its decision, stating that it would help support the government’s efforts to build the nation’s foreign reserves.
“We are very pleased with this development. Having Ghanaians at the helm of the minerals and mining sector is critical to maximising national benefits, ensuring local value retention, and driving economic transformation,” Gyamfi said.
He bemoaned the relatively low contribution of many large-scale mining companies to the country’s foreign reserve accumulation efforts and urged other mining firms to emulate the example set by Damang Gold Mine.
“This is very important for the successful implementation of the Ghana Accelerated National Reserve Accumulation Programme (GANRAP), which was launched by the government and approved by Parliament,” he added.
The first gold output from Damang Gold Mine delivered to GoldBod today weighs approximately 110 kilogrammes. The gold will be assayed, valued, and purchased by the Ghana Gold Board on behalf of the Bank of Ghana. It will subsequently be refined and added to the Central Bank’s official gold holdings.