“Polluted Gold: The Price of Ghana’s Unchecked Galamsey”

The precious metal that once lured explorers and adventurers built empires and, more recently, has strengthened our economy. Yet, as the proverb goes, “The axe that fells the forest is itself from the same tree.” Today, the very gold that sustains us is on the verge of becoming our downfall, transforming into what we might call Polluted Gold—a symbol not of wealth, but of contamination and peril

This menace, galamsey, is no stranger to us. It is the termite gnawing at the base of our mighty golden tree. What started as a survival tactic, young men and women, shovels in hand, “gathering and selling” gold, has grown into an uncontrollable epidemic. Galamsey, the act of illegal mining, has crept into the crevices of our society, fueled by desperation and the failures of regulation. Yet, despite the government’s huffing and puffing, galamsey persists, much like the rain that defies the roof.

 

But there is a global dimension to this. If we are not careful, Ghana’s gold, once pure and coveted, could be marked as Polluted Gold by international bodies like the OECD and the World Gold Council. Imagine that, our golden pride becoming a symbol of environmental wreckage, turning rivers into streams of poison, and lands once lush into barren scars. And what happens when the international community blacklists our gold? It will be as if the hunter has become the hunted; the very source of our wealth will spell our economic downfall.

Gold makes up over 40% of our export revenue. You need not be a prophet to see the economic storm gathering if Ghana’s gold becomes known as Polluted Gold. International investors, ever wary of controversy, might flee faster than a bat out of hell. When capital dries up, our cedi will wobble, and inflation will rise. The foundations of our economy, already fragile, will teeter.

And the impact doesn’t end there. Our reputable companies, Newmont Ghana, AngloGold Ashanti, and Gold Fields Ghana, are caught in the crossfire. These firms, which follow the rules and give back to communities, find themselves playing a losing game. Illegal miners, undeterred, encroach on their territories, forcing these companies to spend millions on security. Meanwhile, galamsey’s environmental destruction tars their image as well. Imagine operating by the book, only for the muddy waters of galamsey to flow downstream and leave a stain on your reputation. Investors may start to wonder, and when they do, stock prices will tremble, capital will dry up, and the ripple effects will hit home.

Source:thehighstreetjournal.com