The Ghana Gold Board (GoldBod) has signed a refinery partnership agreement with Royal Ghana Gold Refinery, under which the Board will supply up to one metric tonne of gold per week for local refining, to strengthen domestic value addition and improve Ghana’s retention of earnings from its mineral resources.
The agreement is expected to reduce the export of raw gold and increase domestic capture of value through refining fees, recovery of by-products and related industrial linkages. It is also positioned as part of a broader policy direction to ensure Ghana derives “maximum value” from its mineral endowment, while strengthening its position within Africa’s gold refining value chain.
The partnership is anticipated to generate skilled employment opportunities and deepen local participation in the downstream mining sector, alongside reinforcing foreign exchange earnings through in-country processing.
Speaking at the signing ceremony, GoldBod Chief Executive Officer Sammy Gyamfi emphasized the government’s long-term objective of ensuring “value addition agenda” outcomes in the mining sector, noting that the ambition is for all minerals mined in Ghana to be refined locally by 2030. He further referenced commitments toward “industrialisation and economic transformation agenda,” underlining refining as a strategic pillar for national development.
The Bank of Ghana and Royal Ghana Gold Refinery also indicated support for the initiative, with stakeholders highlighting the importance of “strengthening coordination” across the financial and mineral sectors to enhance efficiency in gold aggregation and refining operations. The agreement marks GoldBod’s second refinery partnership in 2026, following an earlier arrangement with Gold Coast Refinery, and is expected to consolidate Ghana’s emerging role as a regional gold refining hub.
