GoldBod to establish state-owned gold refinery to drive local value addition
Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, says Goldbod will establish a wholly state-owned and international-standard gold refinery as part of efforts to advance the local refining of gold and strengthen the country’s position in the global gold value chain.
Speaking at the maiden edition of the Mining and Minerals Convention in Accra, Sammy Gyamfi noted that the initiative is part of the reset agenda of the Mahama-led administration, aimed at transitioning Ghana from the export of raw doré to refined bullion.
He stressed that it was unacceptable for Ghana, a continental leader in gold production, to continue exporting raw gold without significant value addition.
The project will be sited at a parcel of land already secured by the Gold Board at the cargo village of the Kotoka International Airport, where an ultra-modern ISO-certified Assay Laboratory will also be developed.
The facility is expected to replace the country’s existing assay regime with the international standard of fire assay, ensuring credibility and transparency in the testing and export of gold.
“The GoldBod would continue to drive innovation, and in this regard, we have secured a parcel of land at the cargo village of the Kotoka International Airport to build an ultra-mordern ISO certified Assay Laboratory with the aim of changing Ghana’s assay regime from XRF and water density to the golden standard of assay – fire assay, for all gold produced in and/or exported from Ghana.
“I am happy to inform you, that on that same parcel of land secured by the GoldBod at the Kotoka International Airport, we will be building a wholly state-owned and international-standard gold refinery to further advance the local refining of gold, transitioning Ghana from the export of doré to bullion,” Sammy Gyamfi said.
Beyond refining, Sammy Gyamfi also disclosed that plans are underway to develop strategic partnerships for the establishment of a “Gold Village” in Ghana, envisioned as a continental hub for jewellery and ornament production.
He added that the Ghana Gold Board is already collaborating with the Bank of Ghana and local refineries, including the Gold Coast Refinery, to kickstart the local refining of gold purchased and exported by the Board.
“As part of the reset agenda of the Mahama-led administration, the GoldBod in conjunction with the Bank of Ghana, is partnering local refineries such as the Gold Coast Refinery to begin the local refining of gold purchased and exported by the GoldBod. Let me at this stage, commend the Chamber of Mines for expressing their willingness to work with us to ensure the local refining of gold produced by large-scale mining firms in the country,” he mentioned.
