1 week Ago By News Ghana
News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.com.gh/ghana-to-sell-confiscated-illegal-gold-for-environmental-rehabilitation/Ghana will channel proceeds from the sale of seized illegal gold into restoring degraded ecosystems, Senior Presidential Advisor Joyce Bawah Mogtari announced on Woezor TV on April 20.
The initiative, spearheaded by the Ghana Gold Board, aims to disrupt unregulated mining profits while funding reclamation of polluted rivers and deforested lands ravaged by illegal operations, locally termed galamsey.“Gold mined illegally must not infiltrate legal markets,” Mogtari stated, detailing a blockchain tracking system now deployed to trace the origin of all gold traded domestically. Confiscated metal intercepted through this mechanism will be auctioned, with revenue directly financing environmental recovery projects.
“Our rivers are poisoned, our forests disappearing. But innovative solutions, including youth-led efforts, give hope,” she added.Drawing parallels to international measures against conflict diamonds, Mogtari emphasized lessons from certification schemes that barred “blood diamonds” from global trade.
“Just as the world rejected diamonds fuelling wars, we must reject gold that harms our environment and communities,” she said. Ghana, which exports approximately $5 billion in gold annually, faces significant leakage from illicit mining, which deprives state coffers and local economies of benefits.The Gold Board’s strategy has reportedly gained traction among industry stakeholders, though challenges persist.
Mogtari acknowledged past enforcement gaps but affirmed renewed institutional collaboration to ensure transparency. “This isn’t just about regulation it’s about national survival,” she asserted, urging public support for the initiative.Ghana’s latest move intersects with broader anti-galamsey efforts, including stricter mining permits and recent arrests of illegal operators.
While the government frames these measures as nonpartisan, critics note enduring hurdles: corruption within regulatory bodies, fluctuating global gold prices incentivizing smuggling, and limited resources for large-scale ecological rehabilitation.Success may hinge on sustained technological investment, such as blockchain’s role in supply chain accountability, and whether reclaimed lands can transition to sustainable uses. Historically, similar campaigns have struggled with longevity, but integrating environmental finance into enforcement could set a precedent for resource-dependent nations grappling with illicit trade’s dual economic and ecological costs.
News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.com.gh/ghana-to-sell-confiscated-illegal-gold-for-environmental-rehabilitation/.
