The Ghana Gold Board has officially signed a Gold Refining Agreement with Gold Coast Refinery Company Limited, marking a significant milestone in the country’s ongoing efforts to deepen value addition and strengthen its gold value chain.
The agreement is expected to enhance Ghana’s capacity to refine gold locally, reduce reliance on foreign refineries, and retain greater economic benefits within the country. By refining more of its gold domestically, Ghana aims to increase revenue generation, create jobs, and promote technology transfer in the mining and minerals sector.
Officials described the partnership as a strategic move aligned with the government’s broader vision of transforming Ghana from a raw commodity exporter into a value-driven economy. The deal will allow the Gold Coast Refinery to refine gold under agreed standards and frameworks, ensuring transparency, quality assurance, and compliance with international market requirements.
Speaking at the signing, the Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, outlined key benefits of the agreement, describing it as the first-ever local gold refining arrangement between the Government of Ghana and a Ghana-based refinery.
Speaking at the signing ceremony, representatives of the Ghana Gold Board emphasized that the collaboration will help formalize parts of the gold trade, improve traceability, and strengthen oversight across the gold supply chain. The initiative is also expected to support small-scale miners by providing a reliable and certified local refining option.
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Gold Coast Refinery Company Limited, recognized as one of the leading refineries in the sub-region, expressed its commitment to maintaining high international standards and supporting Ghana’s ambition to become a major hub for gold refining in Africa.
Ghana remains one of Africa’s top gold producers, and stakeholders believe that strengthening domestic refining capacity will significantly boost foreign exchange earnings and enhance the country’s position in the global bullion market.
The agreement signals a renewed push toward industrialization and value retention within Ghana’s mineral resources sector, reinforcing the country’s determination to maximize benefits from its gold production.