The Chief Executive Officer of the Ghana Gold Board, Mr. Sammy Gyamfi, has revealed that proceeds from seized assets, including over 12 kilograms of gold and GH¢24 million in cash, will be reinvested into development projects across mining communities.

Speaking at a stakeholder briefing, Mr. Gyamfi disclosed that the seized assets, valued at approximately GH¢35 million, were confiscated from individuals and groups involved in illegal mining operations. He said the gold will be sold, and the proceeds, combined with the seized cash, will be directed toward essential social infrastructure.

“The funds will be used to construct portable water systems, schools, and health facilities in mining areas, significantly improving the living conditions of residents,” Mr. Gyamfi stated.

He emphasised the Ghana Gold Board’s commitment to transparency and accountability, assuring the public that every seized asset is properly documented and the use of proceeds will be reported regularly.

“These actions are not just about enforcement,” he added, “but about ensuring that Ghana’s gold resources truly benefit the people, especially those in mining communities who have long borne the brunt of unregulated mining.”

The initiative is part of a broader crackdown on illegal mining, which has caused extensive environmental damage and deprived the nation of significant revenue.

Mr. Gyamfi also announced that President John Dramani Mahama is expected to make major declarations regarding the national impact of the seizures during the inauguration ceremony of the Gold Board’s task force, a new body formed to intensify enforcement and recovery efforts.