Sammy Gyamfi
The Chief Executive Officer of Ghana Gold Board (GoldBod), Sammy Gyamfi, says the institution is working on a new agreement which will enable it to establish one of the world’s largest gold refineries in the country.
Mr. Gyamfi, who disclosed this during a meeting with members of the National House of Chiefs in Ashanti Region last Friday, said the project, which will start in the later part of the year and completed in 2027, forms part of the government’s broader agenda to position Ghana as a leading gold refinery hub in Africa.
“We’re in the process of signing a new agreement that will see to the establishment of what is going to be one of the biggest refineries in the world in Ghana.
“We will cut a sod for the establishment this year, and we hope to complete it by next year. It’s going to be a 600-tonne capacity refinery. It will refine all the gold we produce here, it can also refine gold from Burkina Faso, Togo, and other places. The idea is to make Ghana a hub for gold refinery,” he stated.
GoldBod, in January this year, signed a gold refining agreement with Gold Coast Refinery, marking a major step towards deepening value addition within Ghana’s gold sector.
According to the institution, the partnership will help reduce the country’s long-standing reliance on exporting raw gold, which has over the years resulted in some revenue losses.
Under the agreement, gold sourced from both artisanal and large-scale mining operations will be refined locally for trade and export while improving the country’s position along the global gold value chain.
The Chief Executive Officer of GoldBod said the agreement will significantly enhance the implementation of a track-and-trace system across the gold sector, adding that the country’s daily export of approximately one tonne of gold will be shipped in refined form, with a minimum purity of 99.9 per cent, reflecting the highest standard in the industry.
He further mentioned that millions of dollars that the country pays to refineries in countries such as Dubai, Switzerland, India, Hong Kong, and other foreign countries will be retained in the country for economic development.
The Ghana Gold Board, established in 2025, oversees, regulate and undertake the buying, selling, assaying, refining, and exporting of gold and other precious minerals in Ghana in line with Section 78 of GoldBod Act 1140, which took over the rights, obligations, assets, liabilities and workforce of the Precious Minerals Marketing Company (PMMC) Limited.
By Ebenezer K. Amponsah