The Ghana Gold Board (GoldBod) has signed a remarkable gold refining agreement with Gold Coast Refinery on Tuesday, January 20, 2026, marking a major step towards deepening value addition within Ghana’s fast-flourishing gold sector.
The partnership aims at reducing Ghana’s over-reliance on raw gold export, a culture that has led to a significant loss of revenue that could otherwise be captured through domestic refining and downstream processing.
Under the new agreement, gold sourced from both artisanal and large-scale mining operations will be refined locally for trade and export, entrenching Ghana’s position along the global gold value chain.
The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, while speaking at the signing ceremony in Accra, noted that the agreement will significantly improve the implementation of a track-and-trace system across the gold sector.
Mr. Gyamfi further explained that Ghana’s daily export of approximately one tonne of gold will now be shipped in refined form, with a minimum purity of 99.9 per cent, the highest standard in the industry.
“This development marks a major milestone in Ghana’s gold trade and will help maximise national benefits from our mineral resources,” Mr Gyamfi said.
He further highlighted the economic benefits, noting, “The millions of dollars we pay as refinery charges to refineries in Dubai, Switzerland, India, Hong Kong, and other foreign countries will now stay in our banking sector. That money will now stay in our economy.”
On job creation, he added, “What this agreement also means is that we are creating more direct and indirect jobs, particularly because Gold Coast Refinery has committed to operating 24/7 in line with the government’s 24-hour policy.”
GoldBod emphasised that the partnership will help anchor more of the gold value chain within Ghana, ensuring that the country derives maximum value from its position as Africa’s leading gold producer.