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Ghana's central bank to buy another 125,000 oz. of domestic gold by year-end
From the Ghana News Agency
via PeaceFM, Accra
Saturday, September 24, 2022
Gold-producing member companies of the Ghana Chamber of Mines will, by December 2022, sell about 125,000 ounces of gold to the Bank of Ghana under the central bank's Domestic Gold Purchase Programme.
The decision followed a meeting between Vice President Alhaji Dr. Mahamudu Bawumia, some other members of the Economic Management Team, the Bank of Ghana, the Ministry of Lands and Natural Resources, Minerals Commission, the government's Precious Minerals Marketing Co., as well as the leadership of the chamber to consider the implementation of the central bank's gold purchase programme in the light of the country's economic challenges.
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Ahead of that meeting, Newmont Ghana had already sold 3,500 ounces of gold to the Bank of Ghana as part of the programme.
Vice President Dr. Bawumia said after the meeting, "It was agreed that to help shore up the foreign exchange reserves of the Bank of Ghana. Starting September 1, the Bank of Ghana will purchase a portion of the output of the gold mining companies on a continuous basis at world market prices, but payment will be made in Ghana cedis." ...
... For the remainder of the report:
https://www.peacefmonline.com/pages/local/news/202209/474762.php
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