"GoldBod–Gold Coast Refinery agreement, major milestone in Ghana’s drive to add value to mineral resources" - Deputy Lands Minister

The Ghana Gold Board (GoldBod) has signed a landmark gold refining agreement with Gold Coast Refinery, a move government says will significantly advance Ghana’s efforts to add value to its mineral resources and strengthen local participation in the mining value chain.

The agreement was signed at a ceremony held on Tuesday at GoldBod’s conference room in Accra, bringing together officials from the Ministry of Lands and Natural Resources, GoldBod, and representatives of Gold Coast Refinery.

Speaking at the signing ceremony, Alhaji Yusif Sulemana, Member of Parliament and Deputy Minister for Lands and Natural Resources, described the agreement as “a major milestone in Ghana’s efforts to add value to its mineral resources,” noting that it aligns with the government’s broader industrialisation and value-addition agenda.

According to him, the partnership is expected to enable large-scale local gold refining to begin in 2026, reducing Ghana’s dependence on foreign refineries and ensuring that more value from the country’s gold production is retained within the local economy.

He explained that local refining will not only improve Ghana’s earnings from gold exports but also create jobs, enhance skills development, and facilitate technology transfer within the mining and allied sectors.

Alhaji Sulemana commended the leadership of GoldBod and Gold Coast Refinery for their commitment to the partnership, stressing that government will play its part to ensure the success and sustainability of the project.

He further assured current and prospective investors of government’s support, emphasizing that Ghana remains a safe, stable, and attractive destination for investment in the natural resources sector.

The agreement is expected to position Ghana more competitively in the global gold market while contributing to economic growth and long-term development through value-added mineral processing.

Story by: Joshua Kwabena Smith