GoldBod signs second local gold refining deal with Royal Ghana Gold Refinery

The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has announced that the state agency has signed a new agreement with Royal Ghana Gold Refinery to refine gold locally as part of government’s broader value addition agenda.

The agreement marks the second major local refining partnership by GoldBod, following an earlier deal with Gold Coast Refinery aimed at ending Ghana’s long-standing practice of exporting raw gold.

Speaking on the initiative with board members on Monday, May 25, 2026, Sammy Gyamfi said President John Dramani Mahama’s administration is determined to transform Ghana’s dependence on the export of unprocessed minerals.

Damang Gold Mine sells 100% of first gold output to GoldBod

“Our marching orders from His Excellency the President have been very clear from day one: we must change the narrative of Ghana’s continuous export of raw minerals,” he said.

According to him, Ghana previously lacked the capacity to refine its own gold when the current administration assumed office in January 2025.

“When we took office on January 7, 2025, Ghana did not have the capacity to refine gold locally. All gold produced from both the large-scale and small-scale sectors was exported in its raw state,” he said.

He described the situation as unacceptable for a country globally recognised for its gold production.

“It is a tragedy that as a mining nation, we did not possess the capacity to refine the minerals we produce locally to ensure value addition and local value retention,” he added.

Gyamfi further stressed that GoldBod has been tasked with leading government’s strategy to end raw mineral exports before the end of the decade.

“His Excellency has boldly announced his vision to bring an end to the export of raw minerals by the year 2030, and we have been given the mandate to lead that process,” he said.

ANAS/MA

Why the Bank of Ghana held the policy rate at 14% - Governor Asiama explains