Gold has jumped to a fresh high as investors fret over the impact of the trade war between the US and China. Spot gold touched $3,357.40 (£2,540) per ounce on Wednesday, before dipping from its peak. It has risen by around a third since the start of the year. The rise follows comments by the […]
Tag: Gold
Gold Fields share price drops after government denies its mining lease
Gold Fields Limited, one of the world’s leading gold producers, is preparing to shut down its Damang mine in Ghana by Friday, April 18, 2025, after the government rejected the company’s application to extend its mining lease. The announcement, made on Monday, triggered a 6.3 per cent drop in Gold Fields’ share price on the […]
LIST: See the top 10 exports from Ghana in 2024
Ghana’s export sector experienced a \surge in 2024, with total exports reaching GH₵294.9 billion, significantly surpassing imports of GH₵250.2 billion and generating a trade surplus of GH₵44.7 billion, according to the Ghana Statistical Service (GSS) Trade Report. The report highlights that just three commodities—gold, petroleum, and cocoa—accounted for 78.2 percent of Ghana’s total export revenue. […]
National Security announces seizure of gold, dollars, and fakes at Sapeiman
The National Security has said it has made a huge bust, seizing a large, unspecified amount of US dollars and Ghana cedis, including counterfeits, hidden in twelve 20ft shipping containers. The containers, according to National Security were tracked to a warehouse around Sapeiman in the Ga South Municipality in Greater Accra, where a special late-night […]
Central banks gold reserves: Ghana places 5th in Africa
Ghana placed 5th in Africa as the largest holder of central banks gold reserves, data from International Statistics has revealed. The country also placed 60th globally, According to the figures, the nation boasts of 28.1 tonnes of gold reserves, about 41.2% of the reserves. The country’s gold reserves have increased steadily since May 2023, when they stood […]
BoG adds 7.70 tonnes of gold to reserves
The Bank of Ghana (BoG) has added 7.70 tonnes of gold to the country’s reserves as of the end of last month, the Governor of the Bank of Ghana, Dr Ernest Addison, has stated. The measure, which is part of the central bank’s Domestic Gold Purchase Programme (DGPP), is aimed at increasing gold as the […]
Armed robbers steal gold worth $350,000 from mining company
Armed robbers made away with gold with a value of approximately US$350,000 when they raided the Homase site of gold ore mining company, GoldStone Resources Limited near Akrokeri in the Ashanti region on June 10, 2022. GoldStone Resources in a statement issued today said no one was hurt during the dastardly heist and the loss […]
Store gold: Vice-President tells African central banks
The Vice-President, Dr Mahamudu Bawumia, has charged central banks in Africa to actively build up their gold reserves by purchasing traceable and sustainably produced local gold at world market prices. “We have not had that philosophy and thinking over the years to build our gold reserves, as we just produce and share,” he said. Therefore, […]
No withholding tax on gold export from January 2022 – Minister
Effective January 1, 2022, small-scale miners (SSM) will no more be required to pay three per cent withholding tax on gold at the point of export through the Precious Minerals Marketing Company (PMMC). This follows the government’s fiscal policy to scrap the three per cent withholding tax on processed gold and replace it with 1.5 […]
Businessman in trouble over $1m gold scam
An Accra Circuit court has issued a bench warrant for the arrest of a businessman, Alhaji Siba Yahaya, for allegedly defrauding some foreign investors in a more than $1million gold scam. The bench warrant was issued after Yahaya had failed to appear before the court to which he had been summoned. The court, presided over […]
Police arrest two suspected robbers with gold detecting machine
A Police patrol team in conjunction with a Community Watchdog has arrested two member of an armed robbery gang who robbed a gold dealer of his gold detecting machine at Talekura near Tinga, a gold mining enclave in the Bole District of the Savannah Region. The suspects, Dauda Appiah, 43 and Yussif Abdullah, 25, were […]
12 scammers who shipped bags of cement as Gold to their clients arrested
The issue of internet scamming is one thing that has been frowned on by many but most of the youth are engaged in it with the hope of amassing wealth at a very fast way. Even though most of them get arrested for their criminal actions, others on the other hand still continue to engage […]