The Ghana Gold Board has signed a landmark Gold Refining Agreement with Gold Coast Refinery Company Limited, establishing the first-ever formal partnership between the government and a domestic refinery to process the nation’s gold locally. During the signing ceremony, the Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, characterized the deal as a transformative milestone aimed at deepening the domestic value chain and retaining millions of dollars in refining charges that were previously lost to external markets.
The agreement is set to stimulate economic growth by creating numerous direct and indirect jobs through 24-hour refinery operations, while simultaneously increasing national tax revenues. Beyond the immediate financial gains, the partnership is designed to tackle industry challenges such as gold undervaluation and purity losses, ensuring that local jewelers have a steady supply of refined gold and silver.
Mr. Gyamfi further noted that the initiative positions Ghana to achieve LBMA-certified refining standards, enhancing the integrity of national exports and strengthening the formalization and traceability of the Artisanal and Small-Scale Mining (ASM) sector.
This strategic move represents a decisive shift in policy toward maximizing returns from Ghana’s natural resources through industrialization and local job creation.
Ruth Abla ADJORLOLO
