GoldBod and Gold Coast refinery sign deal to refine gold locally

The Ghana Gold Board (GoldBod) signed a landmark gold refining agreement with Gold Coast Refinery on Tuesday, January 20, 2026, taking a major step toward boosting value addition in Ghana’s gold sector.

The partnership aims to reduce the country’s dependence on exporting raw gold, a practice that has historically caused significant revenue losses that could be captured through local refining and downstream processing.

Under the agreement, gold from both artisanal and large-scale mining operations will be refined locally for trade and export, strengthening Ghana’s role in the global gold value chain.

At the signing ceremony in Accra, GoldBod CEO Sammy Gyamfi said the deal will enhance the implementation of a track-and-trace system across the gold sector.

He added that Ghana’s daily gold exports of roughly one tonne will now be shipped in refined form, with a minimum purity of 99.9 per cent.

"This development marks a major milestone in Ghana’s gold trade and will help maximise national benefits from our mineral resources," Gyamfi said.

He also highlighted the economic advantages: "The millions of dollars we pay as refinery charges to countries like Dubai, Switzerland, India, and Hong Kong will now remain in our banking sector. That money will now stay in our economy."

On job creation, he noted, "This agreement also means more direct and indirect jobs, especially as Gold Coast Refinery will operate 24/7, in line with the government’s 24-hour policy."

GoldBod stressed that the partnership will anchor more of the gold value chain within Ghana, ensuring the country maximises its position as Africa’s leading gold producer.

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