In a move set to transform Ghana’s gold industry, the Ghana Gold Board (GGB) has signed a landmark Gold Refining Agreement with the Gold Coast Refinery Company Limited. The deal represents the first-ever collaboration between the government and a locally based refinery.
Speaking at the ceremony, GGB Chief Executive Officer Sammy Gyamfi highlighted the economic benefits of the arrangement. “This agreement will retain millions of dollars in refining charges within Ghana, create both direct and indirect employment through continuous 24-hour operations, and increase tax revenues,” Gyamfi said.
The agreement is also expected to minimize gold undervaluation, reduce purity losses, and provide a steady supply of refined gold and silver for local jewellers. Moreover, it positions Ghana for London Bullion Market Association (LBMA) certification, strengthens traceability, and supports the formalisation of artisanal and small-scale mining (ASM).
Officials say the deal marks a decisive step toward local value addition, job creation, and higher economic returns from Ghana’s gold sector.
