The Chief Executive Officer of Dalex Finance, Joe Jackson, has said that Ghana’s gold could be blacklisted as blood gold.
Joe Jackson noted that if the world realises Ghana is not selling sustainable gold, the country could be blacklisted.
According to him, Goldbod, which was set up as a game changer, could fail if the Mahama government does not tackle illegal mining, locally known as galamsey, with the necessary urgency.
Speaking on TV3’s “The Key Points” on September 13, 2025, Joe Jackson explained, “If the rest of the world decides that we are selling gold that is not sustainable, we could be blacklisted. Gold board, which is supposed to be the game changer, could disappear simply because we have not tackled galamsey, and we are now blacklisted as selling unsustainable or, blood gold”.
“In the same way… It will not be only gold. Very soon, we may not be able to export certain food items. You will not be able to export cocoa. If you can’t export it because the heavy metals from illegal mining are leaking into the water bodies, it will greatly impact our economy and erode all successes the government has chalked in other sectors,” he added.
Mr Jackson further cited the Ghana Water Limited’s (GWL) request for a 280% tariff increase, and also pointed to the galamsey impact on the supply of water to Tema residents.
Joe Jackson lamented, “I live in Tema. Tema used to be the best place for utilities. Now, if you get three days’ water running through your pipes in a week, then it’s looking good for us. This is in the rainy season. I dare to think of what will happen in the dry season, and you find similar experiences all over. That’s the situation for water”.
Meanwhile, President John Dramani Mahama has said that the implementation of a state of emergency might sound nice, but it should be the last resort.
According to John Mahama, his administration is not in a rush to declare a state of emergency in the fight against illegal mining.
He noted growing public pressure to take drastic measures on galamsey but warned against resorting to a state of emergency prematurely.
Speaking at his media encounter in Accra on Wednesday, September 10, John Mahama explained, “I’ve been reluctant to implement a state of emergency in the galamsey fight because we’ve not exhausted the powers we even have without a state of emergency”.
“We have the opportunity to arrest anybody, to confiscate any such thing. The laws for forest protection and all that give us enough powers to be able to act”, he added.
John Mahama highlighted that a state of emergency should be considered only as a last resort.
“Implementing a state of emergency might sound nice, but it should be the last resort. So for now, let’s exercise all the powers we have — and if it becomes necessary for a state of emergency, then we look at it,” he added.
John Mahama further announced that his government is intensifying efforts to combat illegal mining, which has long threatened Ghana’s environment and natural resources.
He announced that the task force’s operations have led to the apprehension of hundreds of excavators, water pumps, and other heavy equipment used in galamsey activities.
“We’re taking decisive action to protect our environment and natural resources from destruction. A dedicated national task force is in place, actively combating the menace of illegal mining.
“As a result of their operations, hundreds of excavators, water pumps and other heavy equipment have been seized. Disrupting the networks that have long exploited our rivers. Nine forest reserves have been reclaimed from the grips of illegal miners,” he said.
John Mahama also added that his administration has not granted a single mining licence for operations within Ghana’s forest reserves after his return to office.
“Let me be clear. Since my administration resumed office, not a single licence has been issued to any company to mine in our forest reserves”, he confidently added.
He further added that the livelihoods of about 4 million Ghanaians depend on small-scale mining.
According to Mahama, the fight against galamsey is going to be a process, which is not going to be an event.
John Mahama explained, “ I didn’t expect that in 8 months we would declare victory in the fight against illegal mining (galamsey), as the livelihoods of about 4 million Ghanaians depend on small-scale mining. So, it’s going to be a process. It’s not going to be an event, but we will not give up. We are determined to get on top of the situation.
He added, “The GoldBod was introduced as part of the reforms to streamline the operations of gold buying in the country. If the gold board was not introduced, I mean, those who were profiting from the small-scale mining sector were the foreign traders (sic). In six months, we have exported over $6 billion worth of gold. About $4 billion of that money was going to go into the pockets of foreign traders”.
“So, the first thing is, you shut the stable door so that the horse doesn’t escape, which is what we’ve done. So, if it’s from illegal sources or it’s from legal sources, it is retained in the country because at least it’s our land that is being destroyed. So, let us get the benefit of it instead of foreign traders. So, that’s the first thing,” he added.