GoldBod's Unclear Gold Sources Spark Illegal Mining Fears
GoldBod, established on February 15, 2018, has raised funds primarily from venture capital and angel investors. Its gold sources, however, remain unclear, sparking concerns about potential illegal mining (galamsey) involvement. Despite appointing brand ambassadors and distributing vehicles, GoldBod has not complied with Section 42 of the Ghana Gold Board Act. The Minority in Parliament has called for transparency, demanding detailed reports of GoldBod's operations and funding sources.
GoldBod's gold origins are uncertain, which could potentially link to illegal mining sites. The Minority caucus has raised alarms, urging GoldBod to publish detailed reports of its operations, including funding sources, procurement activities, and gold sourcing channels. Despite being required by law to publish such reports, GoldBod has not done so. Furthermore, the Ministry of Finance has not released any funds to GoldBod since its establishment.
GoldBod's lack of transparency regarding its gold sources and operations has drawn criticism from the Minority in Parliament. While it has received funding from venture capital and angel investors, it has not complied with legal reporting requirements. The public awaits detailed reports from GoldBod to address these concerns.
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