By Enock Akonnor (Managing Editor) enockakonnor2013@gmail.com
The Ghana Gold Board 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.
The agreement represents the first-ever local gold refining arrangement between the Government of Ghana and a Ghana-based refinery, signaling a strategic shift toward retaining greater value from the nation’s gold resources.
Speaking at the signing ceremony, Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, outlined the wide-ranging benefits of the partnership.
He noted that the agreement will retain millions of dollars in refining charges within the Ghanaian economy, which had previously been lost to offshore refining.
According to Mr. Gyamfi, the deal will also generate direct and indirect employment opportunities through round-the-clock refinery operations, boost government tax revenues, and reduce losses associated with gold undervaluation and purity discrepancies.
Additionally, the agreement is expected to ensure a steady supply of refined gold and silver for local jewellers, supporting the growth of downstream industries.
The partnership further positions Ghana to achieve London Bullion Market Association (LBMA)-certified refining, enhance the credibility and integrity of gold exports, and strengthen the formalisation and full traceability of gold from the artisanal and small-scale mining (ASM) sector.
Mr. Gyamfi described the agreement as a decisive step toward local value addition, job creation, and maximising returns from Ghana’s gold resources, reinforcing the government’s broader industrialisation and economic transformation agenda.
Enock Akonnor is an experienced Ghanaian journalist, based in Kumasi and currently serves as the CEO and Managing Editor of www.leakyghana.com.
With a wealth of expertise built over many years in the media industry, he has earned a solid reputation as one of Ghana’s most sought-after journalists.
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✉️ enockakonnor2013@gmail.com
