The Ghana Gold Board (GoldBod) has signed a gold refining settlement with Royal Ghana Gold Restricted.
Underneath the settlement, Goldbod will provide as much as one tonne of gold per week to Royal Ghana Gold Restricted as a refinery.
The settlement types a part of the Mineral Worth Addition Plan and is Golddod’s second main refinery partnership, following a earlier settlement with Gold Coast Refinery.
Talking at a signing ceremony on Monday (25 Might 2026), Goldbod CEO Sammy Gyamfi stated the corporate plans to make sure that by 2030, all mineral sources mined in Ghana are domestically refined earlier than export.
Mr Gyamfi stated Goldbod was tasked with main the federal government’s technique to finish exports of uncooked minerals by the tip of 2020.
“Our marching orders from the President have been very clear from day one. We now have to vary the narrative of Ghana’s continued export of uncooked minerals,” he stated.
He stated that when the present authorities took workplace in January 2025, Ghana didn’t have the capability to refine its personal gold.
“After we took workplace on January 7, 2025, Ghana didn’t have the capability to refine gold domestically. All gold produced in each the big and small sectors was exported in its uncooked kind,” he stated.
He stated the state of affairs was unacceptable for a rustic acknowledged globally for its gold manufacturing.
“As a mining nation, it’s a tragedy that we didn’t have the power to refine domestically produced minerals to make sure added worth and protect the worth of the area,” he added.
Governor of the Financial institution of Ghana, Dr. Johnson Asiamah, stated efforts to extend the worth addition of pure sources would considerably enhance the nation’s stability of funds.
He stated the worth addition to the nation’s pure sources would result in a major enchancment within the nation’s stability of funds.
Dr. Asiama stated that each one pure sources, together with not solely gold but in addition oil and cocoa, have lengthy been in demand for worth addition, stressing that worth addition brings important advantages, particularly in job creation and elevated income.
He additionally praised the partnership and reaffirmed the central financial institution’s help for this initiative.
Dr. Asiama stated the Financial institution of Ghana holds a minority stake within the Royal Ghana Gold Refinery Restricted, explaining that the funding is primarily geared toward strengthening regulatory oversight and supporting Ghana’s broader gold value-add enhancement plans.
He described the settlement as a strategic intervention in keeping with the nation’s efforts to maximise advantages from Ghana’s gold sources whereas strengthening Ghana’s reserve accumulation and financial stability.
Royal Ghana Gold Refinery Restricted Chief Govt Officer Eric Frimpong stated the refinery will create extra employment alternatives consistent with the federal government’s 24-hour economic system program.
He expressed his gratitude to President Mahama, the Minister of Finance, Dr. Cassiel Ato Forson, the Financial institution of Ghana and Goldbod for his or her help and confidence within the refinery.
Mr. Frimpong assured that the refinery has the mandatory technical capabilities, trendy gear and human sources base to maximise refining manufacturing and function repeatedly in help of Ghana’s industrial transformation plans.
He stated the corporate’s long-term objective was to acquire London Bullion Market Affiliation (LBMA) accreditation and place Ghana in a aggressive place inside the international refining business.
