The Ghana Gold Board on January 20, 2026 signed a landmark Gold Refining Agreement with Gold Coast Refinery Company Limited, a move authorities say will significantly deepen local value addition and strengthen the country’s gold value chain.
Speaking at the signing ceremony, the Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, described the agreement as the first-ever local gold refining arrangement between the Government of Ghana and a Ghana-based refinery. He said the deal represents a decisive shift away from exporting raw gold for processing abroad.
Under the agreement, Ghana is expected to retain millions of dollars previously paid in offshore refining charges, while creating direct and indirect employment through round-the-clock refinery operations. Gyamfi said the arrangement would also boost tax revenues, reduce losses associated with gold undervaluation and purity discrepancies, and guarantee a steady supply of refined gold and silver for local jewellers.
He added that the partnership positions Ghana to achieve London Bullion Market Association (LBMA) certification, a key benchmark for international gold trading. According to the Gold Board, this will enhance the credibility and integrity of Ghana’s gold exports on global markets.
The agreement is also expected to support the formalisation of artisanal and small-scale mining (ASM), improve traceability across the gold supply chain, and ensure better regulatory oversight of the sector.
Officials say the deal aligns with broader government efforts to maximise returns from Ghana’s mineral resources by promoting domestic processing and industrial growth.
“This is a strategic step towards keeping more value within our economy,” Gyamfi said, adding that local refining would help transform Ghana’s gold sector from a largely extractive industry into a more integrated and value-driven enterprise.
Ghana is Africa’s leading gold producer and among the world’s top exporters of the precious metal.