The Ghana Gold Board (GoldBod) has entered into a landmark gold refining partnership with Gold Coast Refinery, formalised on Tuesday, January 20, 2026, in a move aimed at strengthening value addition in Ghana’s gold industry.
The agreement is designed to address Ghana’s long-standing dependence on the export of unrefined gold, a practice that has historically resulted in substantial revenue losses that could otherwise be retained through local refining and downstream activities.
As part of the arrangement, gold produced by both artisanal and large-scale mining operations will be refined within the country for both domestic trade and export, a development expected to enhance Ghana’s standing within the global gold value chain.
Speaking at the signing ceremony held in Accra, GoldBod Chief Executive Officer, Sammy Gyamfi, noted that the deal would greatly improve the rollout of a comprehensive track-and-trace system across the gold sector.
He explained that Ghana’s average daily gold exports of about one tonne will now leave the country in refined form, meeting a minimum purity level of 99.9 per cent, which represents the highest industry standard.
“This development marks a major milestone in Ghana’s gold trade and will help maximise national benefits from our mineral resources,” Mr Gyamfi said.
Highlighting the financial implications, he added, “The millions of dollars we pay as refinery charges to refineries in Dubai, Switzerland, India, Hong Kong, and other foreign countries will now stay in our banking sector. That money will now stay in our economy.”
Touching on employment opportunities, he further stated, “What this agreement also means is that we are creating more direct and indirect jobs, particularly because Gold Coast Refinery has committed to operating 24/7 in line with the government’s 24-hour policy.”
GoldBod stressed that the collaboration will help retain a larger portion of the gold value chain within Ghana, ensuring the country derives maximum benefit from its status as Africa’s leading gold producer.
Source: Joy News
