Royal Gold Refinery Limited has announced its commitment to support Government’s 24-Hour Economy policy by expanding operations to boost gold processing and create more employment opportunities for young people.
The Chief Executive Officer of the company, Eric Frimpong Santeng, said the 24-hour operational model would open up more full-time job opportunities, particularly for Ghanaian youth seeking stable employment in the mining and processing sector.
His remarks follow a visit by the Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, who toured the private refinery as part of efforts to explore a potential refinery partnership with the state agency.
“It’s our vision to support the president’s vision and 24-hour economy is what we want to do here, to make sure our youth gain full-time employment and as I mentioned to you.
“We got the privilege of engaging technical people who are very experienced to train our local team here and once they learn, they take over,” he explained.
Mr Santeng disclosed that when fully operational, the facility is expected to employ about 27 workers per shift, highlighting its potential contribution to job creation.
On his part, Mr Gyamfi said the Ghana Gold Board has engaged a technical expert to assess the refinery’s operations and advise on the viability of a formal partnership.
“Our expert will be working with them on daily basis, follow up and where he can help, he will help because he has a clear understanding of practically the system we will be working with,” he said.
He expressed optimism that discussions would soon lead to an agreement for full operational collaboration with Royal Gold Refinery Limited.
“We are very optimistic we can resolve these issues and have an agreement in a matter of weeks so please work with us. We want to see life come to this place.
“Next time I come here I will be coming with the Minister of Finance and maybe the Minister for Lands and Natural Resources, maybe the Governor. He is shareholder and that’s our plan,” he stated.
The Royal Ghana Gold Refinery, commissioned in 2024, has the capacity to refine up to 400 kilograms of gold daily.
The Accra-based facility is capable of producing gold of 24 carats with a purity level of 99.99 per cent, marking a key step in Ghana’s drive to move from raw mineral extraction to value addition.
Meanwhile, Ghana has strengthened its broader gold value chain through a partnership between the Ghana Gold Board and Gold Coast Refinery, with technical backing from South Africa’s Rand Refinery.
The agreement is aimed at ensuring that more of Ghana’s gold is refined locally for both domestic use and export, addressing concerns over purity losses and undervaluation on the global market.
Under the arrangement, GoldBod is expected to supply at least one metric tonne of gold weekly to Gold Coast Refinery, depending on capacity, with plans to gradually increase volumes.
The refinery has an annual processing capacity of up to 180 tonnes.
The refined gold is expected to meet a minimum purity standard of 99.5 per cent, with the capability of reaching up to 99.999 per cent, commonly referred to as “five nines”.
All export bars will carry hallmarks from Gold Coast Refinery, GoldBod, the Ghana Standards Authority, and the Bank of Ghana to ensure international credibility and authentication.
