The Damang Gold Mine has for the second time delivered 100 percent of its gold production to the Ghana Gold Board (GoldBod), in a move government officials say supports efforts to strengthen Ghana’s economic value retention strategy in the mining sector.
The latest consignment, presented on Monday, May 18, 2026, amounted to 121 kilograms of gold, equivalent to approximately 3,400 ounces. The figure exceeds the mine’s previous delivery of 103 kilograms made during its first transaction with GoldBod.
Speaking during the presentation ceremony, GoldBod Technical Director Michael Arko praised the management of Damang Gold Mine and its parent company, Engineers and Planners, for demonstrating confidence in the government’s national gold policy.
“Today marks a very significant and refreshing moment for us at Ghana GoldBod,” Arko stated.
“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.
According to Arko, government policy encourages large-scale mining firms to allocate 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 national economy.
He called on 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 said.
Lawyer for Damang Gold Mine, Bobby Banson, said the company’s decision to supply its entire output to GoldBod reflects its commitment to supporting Ghana’s economic development.
He rejected suggestions that the mine’s earlier supply arrangement was a temporary gesture, describing the latest transaction as evidence of a sustained commitment to the country’s economic stability.
“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 further noted that if more large-scale mining companies prioritized national interest alongside profitability, the economy would become more sustainable and beneficial to citizens.
Banson also reaffirmed the company’s commitment to granting GoldBod the right of first refusal for future gold production, subject to the agency’s financial capacity to purchase the gold.
“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 stated.
Source: www.kumasimail.com
