Gold Coast Refinery Limited has announced a strategic partnership with South Africa’s Rand Refinery that is expected to significantly strengthen Ghana’s gold refining ecosystem and accelerate efforts to establish the country’s first London Bullion Market Association (LBMA)-accredited refinery.
Speaking at the signing ceremony with the Ghana Gold Board, Dr. Said Deraz, Chief Executive Officer of Gold Coast Refinery, said the collaboration marks a major milestone in Ghana’s quest to add value to its gold resources and enhance the country’s standing in the global precious metals market.
“This partnership will result in a significant presence of Rand Refinery in Ghana and will greatly accelerate our journey toward establishing the first LBMA-accredited refinery in Ghana, together with the Ministry of Finance and the Ghana Gold Board. We believe that Ghana will win,” Deraz stated.
Rand Refinery is Africa’s only LBMA-accredited gold refinery and one of the most respected refining institutions globally. Its technical, operational, and commercial collaboration with Gold Coast Refinery is expected to fast-track the transfer of expertise, compliance systems, and international best practices required for LBMA accreditation.
Achieving LBMA accreditation is widely regarded as a transformative milestone for Ghana’s gold industry. It would position locally refined gold to meet the highest international standards for purity, traceability, and responsible sourcing. Such a development could elevate the standard of Ghanaian gold, enhance global confidence in its quality, and significantly improve its perception and competitiveness on the world market.
Gold Coast Refinery, commissioned in 2016, is a modern facility with the capacity to refine up to 100 metric tonnes of gold annually to internationally accepted purity levels. The refinery holds multiple certifications, including Responsible Jewellery Council (RJC) certification and ISO standards, and is licensed to refine gold sourced ethically and responsibly under the oversight of the Ghana Gold Board.
Under the new refining arrangement, raw gold supplied by the Ghana Gold Board will be refined locally before export. This shift is expected to increase export values, deepen value addition within Ghana, create employment, and support the government’s broader industrialisation and economic transformation agenda.
Gold Coast Refinery and Rand Refinery have both reaffirmed their long-term commitment to the partnership, expressing confidence that the initiative will not only strengthen Ghana’s gold sector but also enhance the country’s reputation in international bullion markets.
