GHANA’S Gold Board purchased up to 54 tons (1.9 million ounces) of gold from artisanal and small-scale miners in the first half of 2026 – sufficient to put the country on track to match or exceed last year’s record output, according a report by Reuters which cited the state entity’s CEO.
Africa’s largest gold producer has seen artisanal output climb sharply following reforms aimed at curbing smuggling and boosting foreign exchange earnings, said Reuters. Production hit a record 104t last year, exceeding large-scale mining output for the first time.
Samuel Gyamfi, head of the Gold Board known as GoldBod, said the artisanal sector generated close to $11bn in foreign exchange earnings last year, compared with roughly $9bn from large-scale miners. GoldBod’s 2026 forecasts had been based on an average gold price near $5,000 an ounce and weekly purchases of about 2.5t, he said.
Although recent declines in gold prices have trimmed earnings expectations, Gyamfi said Ghana remains on track to post higher export earnings than last year, since average bullion prices still exceed 2025 levels despite falling short of GoldBod’s initial projections.
