Sammy Gyamfi, Chief Executive Officer of the Ghana Gold Board, announced that Goldbod will establish a fully state-owned gold refinery designed to meet international standards. This initiative seeks to improve domestic gold refining capacity and strengthen Ghana’s position within the global gold value chain.
At the inaugural Mining and Minerals Convention in Accra, Sammy Gyamfi stated that the initiative aligns with the Mahama administration’s reset agenda, which seeks to transition Ghana from exporting raw doré to refined bullion.
He underscored that it is unsustainable for Ghana, as a leading gold producer in Africa, to continue exporting unrefined gold without significant value addition.
The project will be situated on a piece of land that has already been secured by the Gold Board at the cargo village of Kotoka International Airport, where an advanced, ISO-certified Assay Laboratory will also be established.
This facility is anticipated to replace the current assay methods in the country with the internationally recognized fire assay standard, thereby ensuring credibility and transparency in the testing and exportation of gold.
“GoldBod will persist in fostering innovation, and in this context, we have acquired a parcel of land at the cargo village of the Kotoka International Airport to construct a state-of-the-art ISO certified Assay Laboratory. This aims to transform Ghana’s assay practices from XRF and water density methods to the gold standard of fire assay for all gold produced in and/or exported from Ghana.
“I am pleased to announce that on the same parcel of land secured by GoldBod at the Kotoka International Airport, we will also be establishing a fully state-owned and internationally-standardized gold refinery to further promote local gold refining, transitioning Ghana from the export of doré to bullion,” stated Sammy Gyamfi.
In addition to refining efforts, Sammy Gyamfi revealed that plans are in progress to forge strategic partnerships aimed at creating a “Gold Village” in Ghana, which is intended to serve as a continental hub for the production of jewelry and ornaments.
He further stated that the Ghana Gold Board is currently working in collaboration with the Bank of Ghana and local refineries, including the Gold Coast Refinery, to initiate the local refining of gold that is purchased and exported by the Board.
“As part of the reset agenda of the Mahama-led administration, the Gold Board, in partnership with the Bank of Ghana, is collaborating with local refineries such as the Gold Coast Refinery to commence the local refining of gold that is purchased and exported by the Gold Board. At this point, I would like to commend the Chamber of Mines for their willingness to collaborate with us to facilitate the local refining of gold produced by large-scale mining companies in the nation,” he stated.
