Damang Gold Mine sells 3,400 Ounces of Gold to GoldBod

The Damang Gold Mine has completed another sale of gold, delivering a consignment representing 100 per cent of its production to the Ghana Gold Board (GoldBod).

The latest shipment is estimated at 121 kilogrammes of gold, equivalent to about 3,400 ounces. This figure surpasses the 103 kilograms recorded during the company’s first transaction with GoldBod.

Speaking at the GoldBod Assay Laboratory in Accra on Monday [May 18, 2026], Technical Director of GoldBod, Michael Arko, praised the management of Damang Gold Mine and its parent company, Engineers and Planners, for their confidence in the government’s national gold policy.

“Today marks a very significant and refreshing moment for us at Ghana GoldBod,” Mr Arko said as quoted by Graphiconline

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“This is the second time Damang Gold Mine is delivering 100 per cent of its gold production to the Ghana GoldBod, and we highly commend the management for supporting the national policy.”

He noted that the company’s continued engagement reflects increasing industry support for efforts aimed at maximising national benefit from Ghana’s mineral resources.

Mr Arko explained that government policy encourages large-scale mining firms to supply between 20 and 30 per cent of their gold output to the state in order to retain more value within the economy and strengthen national revenue generation.

He further called on other mining companies to follow Damang Gold Mine’s example in supporting local participation in the gold trade.

“If all the other mining companies follow this good example, it will do well for our economy,” he said.

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Speaking to the media, Bobby Banson, legal representative for Damang Gold Mine, said the decision to sell its entire gold output to Goldbod demonstrates the company’s commitment to Ghana’s economic development.

He dismissed suggestions that the initial delivery was symbolic, stating that the second transaction confirms a sustained commitment to the policy.

“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,” Mr Banson said.

He also reaffirmed the company’s intention to continue granting GoldBod the right of first refusal on future production, subject to its financial capacity.

“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 said.