GANRAP: Govt seals deal with miners on 30% gold sale

Ghana's Ministry of Finance has finalized an agreement to sell 30 percent of the gold output from large-scale mining companies. This move is part of the Ghana Accelerated National Reserve Accumulation Policy (GANRAP), which has already received parliamentary approval.

The Memorandum of Understanding (MoU) was signed by the Ministry of Finance along with four other key institutions. These include the Bank of Ghana (BoG), the Ghana Gold Board (GoldBod), and two other unnamed entities. The agreement aims to facilitate the smooth sale of the designated portion of the nation's gold production.

GANRAP is designed to bolster Ghana's national gold reserves. By securing a consistent percentage of output from major mining operations, the government intends to strengthen its economic resilience and financial standing on the international stage. The policy represents a strategic effort to leverage the country's natural resources for long-term economic benefit.