Ghana Gold Board Signs Landmark Gold Refining Deal with Local Refinery

Accra, Ghana — The Ghana Gold Board (GoldBod) has signed a Gold Refining Agreement with Gold Coast Refinery Company Limited, marking a significant milestone in the country’s efforts to deepen value addition and strengthen its gold value chain.

Speaking at the signing ceremony, the Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, described the agreement as the first-ever local gold refining arrangement between the Government of Ghana and a Ghanaian-owned refinery.

According to him, the deal is expected to retain millions of dollars in refining charges within the local economy, while creating both direct and indirect jobs through round-the-clock refinery operations. He added that the agreement will boost government revenue through increased taxes, reduce losses from gold undervaluation and purity discrepancies, and ensure a steady supply of refined gold and silver for local jewellers.

Mr. Gyamfi further noted that the partnership positions Ghana to achieve London Bullion Market Association (LBMA) certification, enhances the credibility and integrity of Ghana’s gold exports, and strengthens the formalisation and full traceability of artisanal and small-scale mining (ASM).

The agreement, he stressed, represents a decisive step toward local value addition, job creation, and maximising returns from Ghana’s gold resources, reinforcing the country’s ambition to move beyond raw mineral exports to higher-value processing.