Ghana is moving to strengthen its position in the global gold industry with the establishment of a wholly state-owned gold refinery at Kotoka International Airport (KIA).
The project, announced by the Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, forms part of the Mahama-led administration’s reset agenda to shift the country from exporting raw doré to producing refined bullion.
Addressing the maiden edition of the Mining and Minerals Convention in Accra, Sammy Gyamfi stressed that Ghana could no longer afford to export raw gold without adding significant value.
“I am happy to inform you that on the 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,” he said.
Alongside the refinery, GoldBod will also construct an ultra-modern ISO-certified Assay Laboratory at KIA. The facility will replace Ghana’s current testing regime with the internationally recognized fire assay method, ensuring credibility and transparency in gold testing and exports.
Beyond refining, Sammy Gyamfi disclosed plans to develop strategic partnerships for a proposed “Gold Village” in Ghana, envisioned as a continental hub for jewellery and ornament production.
He further noted that the Gold Board is collaborating with the Bank of Ghana and local refineries, including the Gold Coast Refinery, to begin refining 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 with 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 added.
