Ghana has taken a major step toward strengthening its gold industry with a tour of the Gold Coast Refinery led by Finance Minister Dr. Ato Forson and the CEO of the Ghana Gold Board, Sammy Gyamfi. The visit signals the official beginning of local gold refining using gold sourced from artisanal and small-scale miners.
This development represents a significant move to add value to Ghana’s gold before export, rather than selling it in raw form. By refining gold locally, the country stands to earn more foreign exchange, improve revenue collection, and reduce losses associated with smuggling and informal trading.
The initiative also seeks to formalize the artisanal and small-scale mining sector, which employs thousands of Ghanaians but has often operated outside strict regulatory oversight. Through the Gold Board and the refinery, miners can now sell their gold through transparent and accountable systems, ensuring better pricing and safer practices.
Importantly, the Gold Coast Refinery is expected to produce gold that meets international quality standards. Full traceability mechanisms will track gold from the point of mining to refining and export, enhancing Ghana’s credibility on the global market and aligning with responsible mining principles.
Overall, the start of local gold refining marks a strategic milestone in Ghana’s natural resource management. It promises job creation, industrial growth, and greater economic benefits, while reinforcing the government’s commitment to transforming the mining sector into a more sustainable and value-driven industry.