Ghana’s GoldBod has signed an agreement with the Ghana Geological Survey Authority (GGSA) to carry out geological studies across mineralized zones, with the institution announcing the deal on March 16.
The project, valued at 27.5 million cedis ($2.5 million), is designed to evaluate the mineral potential of selected areas and support the future development of new artisanal mining sites, Ecofin Agency reported.
The program will focus on mineralized zones in Funsi, Atuna, and Bensere East, although authorities have not yet disclosed the specific minerals being investigated.
Over a four-month period, the Ghana Geological Survey Authority will conduct surveys aimed at producing reliable data to guide mining investments and advance the development of “responsible artisanal mining operations.”
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This initiative represents a strategic shift for GoldBod, which has positioned itself as the regulator of artisanal and small-scale mining (ASM) in Ghana since its establishment last year.
The institution has also taken on the role of sole buyer of gold produced by small-scale miners. By moving into exploration, GoldBod is expanding its mandate and using the development of new mining sites as a way to formalize a sector that has long operated informally.
The move comes as GoldBod looks to build on recent gains in the sector, with artisanal gold production reaching a record 3.1 million ounces in 2025.
However, the results of the planned studies remain uncertain, and the discovery of viable gold deposits could play a critical role in shaping future development plans. Alongside gold, Ghana’s mining sector also includes key commodities such as bauxite and manganese.
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Image Credit: The High Street Journal
