In a bid to support foreign reserves accumulation, Ibrahim Mahama’s Damang Gold Mine Ltd. has sold 100% of its first gold output to the Ghana Gold Board.
The Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, received a team from Damang Gold Mine led by Mr. Ibrahim Mahama himself at the GoldBod Assay Laboratory in Accra last week, where he briefed the media about the historic transaction.
addressing the press
He noted that having Ghanaians at the helm of the country’s minerals and mining sector is key to maximizing national benefits, local value retention and economic transformation.
The Chief Executive Officer bemoaned the low contribution of large-scale mining companies to foreign reserve accumulation efforts of government and urged other large-scale mining companies to emulate the good example set by the Damang Gold Mine.
This, he said, is imperative for the actualization of the objects of the Ghana Accelerated National Reserve Accumulation Program (GANRAP) launched by the government and approved by Parliament.
The first output of the Damang Gold Mine delivered to the GoldBod was about 110KG. The gold will be assayed, valued and purchased by the GoldBod for and on behalf of the Bank of Ghana, refined and added to the Central Bank’s gold holdings.
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