A bold vision for the future of gold: Sammy Gyamfi, CEO of GoldBod, has ignited a global conversation with his call for an international gold certification regime. This proposal aims to tackle the pervasive issue of gold smuggling and promote responsible sourcing worldwide.
Gyamfi's speech at the 2025 Dubai Precious Metals Conference was a powerful statement on the potential of the artisanal and small-scale mining (ASM) sector. He highlighted how ASM, specifically in Ghana, has contributed significantly to the country's economic turnaround, with an impressive 90 tons of gold production in 2025, accounting for a substantial portion of Ghana's export earnings.
But here's where it gets controversial: despite the economic benefits, Gyamfi expressed deep concern over illegal mining activities and their environmental impact. He emphasized the need to protect human life and the environment, stating, "No volume of gold is worth a human life."
Gyamfi pointed to the discrepancies between Ghana's official export figures and import data from destination countries, attributing this to gold smuggling and the involvement of foreign buyers. He warned that anyone buying gold outside of the licensed large-scale mines or GoldBod is engaging in or supporting smuggling activities, subject to the laws of Ghana.
Since its establishment, GoldBod has implemented major reforms, including exclusive authority over ASM gold and a new transparent pricing model. They've also strengthened regulatory frameworks, deployed a national aggregation system, and introduced licensing reforms to curb smuggling. Gyamfi announced an ambitious plan for 2026: a blockchain-powered Track and Trace system to ensure complete transparency and traceability of gold purchases.
Gyamfi urged international organizations and governments to support developing countries in formalizing ASM. He proposed a global certification scheme for gold, similar to the Kimberley Process for diamonds, to prevent smuggled gold from entering legitimate supply chains.
"Gold smuggling is a gateway to money laundering, terrorism financing, and criminal networks. We cannot let this menace continue," he asserted.
Gyamfi outlined the government's plans to invest in sustainable ASM practices, including geological surveys, modern assay technology, and capacity-building programs for miners. The goal is to improve recovery rates, modernize ASM, and reduce environmental impact.
In his closing remarks, Gyamfi emphasized that ASM should be a force for positive change, uplifting communities and safeguarding the environment. He expressed hope that future generations would recognize the importance of the reforms being implemented today.
What do you think about Gyamfi's vision for the future of gold? Is an international certification regime the answer to tackling smuggling and promoting responsible sourcing? We'd love to hear your thoughts in the comments!
