The Ghana Gold Board (GoldBod) Chief Executive Officer, Sammy Gyamfi, has visited the Royal Ghana Gold Refinery. This visit on Monday, April 27, 2026, advances a planned refining services agreement. The agreement seeks to enhance local value addition within Ghana's gold sector.
This initiative forms part of GoldBod's broader strategy to support the government's agenda. The goal is to ensure Ghana gains greater financial benefit from its mineral resources. In-country refining will be a key method to achieve this increased economic benefit. Mr. Gyamfi toured various sections of the facility, including the receiving bay and assay laboratory.
This development aligns with a significant trend in Ghana's economic policy favoring local processing. Ghana has historically exported a large portion of its raw commodities, including gold. This practice has limited the country's share of the final value of these resources. The government now pushes for beneficiation, which means processing raw materials into higher-value products domestically. Other sectors, like cocoa, also see similar efforts to increase local processing.
GoldBod CEO Sammy Gyamfi expressed satisfaction with the refinery's readiness after his inspection. He stated the facility possesses most essential machinery for full-scale refining operations. Mr. Gyamfi noted the refinery needed additional equipment to meet partnership standards, based on technical consultant recommendations. He urged the refinery management to implement these recommendations quickly.
This move directly supports President John Dramani Mahama's vision for Ghana's mineral resources. President Mahama aims to stop exporting raw minerals from Ghana by 2030. “The President’s vision is clear; by 2030, no mineral should leave Ghana in its raw form,” Mr. Gyamfi stated. This policy seeks to unlock more economic potential and create jobs within Ghana.
GoldBod has received directives to partner with local refineries. This partnership will ensure gold bought from artisanal and small-scale mining sectors undergoes local refining. The gold will then be exported as bars, not in raw form. This shift will strengthen Ghana's gold value chain. It will also foster industrial growth.
This strategic partnership is expected to generate significant economic impacts. It aims to capture more value from gold exports for Ghana. This could boost GDP and foreign exchange earnings. Additionally, it highlights the government's focus on job creation. Increased refining capacity will require more skilled labor. This supports the government's priority of skills development and employment opportunities for Ghanaians.