The Ghana Gold Board (GoldBod) has entered into a landmark refinery partnership with Royal Ghana Gold Refinery in a strategic move aimed at deepening value addition within the country’s gold industry and accelerating Ghana’s mineral industrialisation agenda.
Under the agreement, GoldBod will supply up to one metric tonne of gold every week to Royal Ghana Gold Refinery for local processing. The deal is expected to significantly reduce Ghana’s dependence on exporting raw gold while strengthening domestic refining capacity and retaining greater value within the local economy.
The partnership marks GoldBod’s second refinery collaboration in 2026, following an earlier agreement with Gold Coast Refinery, signalling a growing push by the state-backed institution to position Ghana as a leading gold refining hub on the African continent.
Speaking at the signing ceremony, the Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, reaffirmed government’s long-term commitment to value addition in the extractive sector. He stated that the initiative aligns with President John Mahama’s industrialisation vision, which seeks to ensure that by 2030, all minerals mined in Ghana are refined locally before export.
According to him, the policy direction is designed not only to retain refining margins within the country but also to unlock wider economic benefits, including job creation, technology transfer, and the development of ancillary industries linked to mineral processing.
The agreement is also expected to allow Ghana to capture refining fees that have traditionally accrued to offshore processors, while enabling the recovery of valuable by-products often lost in raw mineral exports.
Stakeholders at the signing ceremony, including representatives of the Bank of Ghana and Royal Ghana Gold Refinery, expressed optimism about the partnership, describing it as a critical step towards strengthening Ghana’s industrial base and advancing economic transformation.
They pledged continued collaboration to ensure that the refinery ecosystem becomes a pillar of Ghana’s broader development strategy, particularly in the gold value chain.
