The Ghana Gold Board has signed a historic Gold Refining Agreement with Gold Coast Refinery Company Limited, marking the country’s first-ever local refining arrangement between government and a Ghana-based refinery.
Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, described the deal as a decisive step in Ghana’s quest to deepen value addition and strengthen its gold value chain. He highlighted several benefits, including the retention of millions of dollars in refining charges within the local economy, the creation of direct and indirect jobs through round-the-clock operations, and increased tax revenues.
Mr. Gyamfi further noted that the agreement will reduce gold undervaluation and purity losses, while ensuring a steady supply of refined gold and silver for local jewellers. The partnership also positions Ghana for London Bullion Market Association (LBMA) certification, enhances the integrity of gold exports, and supports artisanal and small-scale mining (ASM) formalisation with full traceability.
“This agreement is not just about refining; it is about securing higher returns from Ghana’s gold, creating jobs, and building a stronger, more resilient economy,” he stated.
The deal is expected to significantly boost Ghana’s standing in the global gold market while reinforcing the government’s commitment to local value addition and sustainable resource management.
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