The Ghana Gold Board (GoldBod) has secured a 0.6-acre parcel of land at the cargo village of the Kotoka International Airport in Accra for the construction of an ultra-modern ISO-certified assay laboratory and a state-owned gold refinery. The development marks a significant step in Ghana’s efforts to add more value to its mineral resources and strengthen its position in the global gold market.
The initiative, according to the GoldBod, will change the country’s assay regime from the existing X-ray fluorescence (XRF) and water density methods to the globally recognised “fire assay” standard. This move will ensure more accurate testing of all gold produced or exported from Ghana, boosting confidence in the quality of the country’s gold.
When completed, the refinery will also enhance Ghana’s local refining capacity, enabling the country to process gold beyond the doré stage. Doré, which is a semi-pure alloy of gold and silver, is currently exported before final refining. The new facility will allow Ghana to export bullion, a more refined and valuable product, thereby increasing revenue from its gold resources.
Mr. Sammy Gyamfi, Chief Executive Officer of the GoldBod, disclosed this while addressing participants at the Mining and Minerals Convention 2025 on Tuesday. He explained that the board, in partnership with the Bank of Ghana, is collaborating with local refineries, including the Gold Coast Refinery, to refine gold purchased and exported by the GoldBod.
He further revealed that the GoldBod has already begun purchasing 20 percent of the gold output from seven large-scale mining companies in the country. This policy is expected to strengthen the local gold market, create employment opportunities, and ensure that more of Ghana’s mineral wealth remains within the country.
Mr. Gyamfi praised the Ghana Chamber of Mines for their readiness to support the initiative, noting that the collaboration between the board and mining firms would guarantee that more gold produced by large-scale companies undergoes local refining before export.
At the same event, the Deputy Minister of Lands and Natural Resources, Mr. Yusif Sulemana, highlighted that despite Ghana’s rich mineral resources, mining communities still face major infrastructure development challenges. He observed that the lack of value addition in the mining sector and inadequate investment had slowed the country’s progress in maximising benefits from its gold reserves.
Mr. Sulemana also raised concerns about the continued use of unsustainable mining practices, particularly by illegal miners, which have caused significant environmental damage. He emphasised that the government was committed to implementing global best practices in the mining industry, including stricter regulation, better stakeholder engagement, and stronger environmental safeguards.
He added that the government is currently reviewing the Minerals and Mining Act, as well as the country’s mining policy, with input from key stakeholders. This review, according to him, will help strengthen regulation and create a more sustainable framework for mining in Ghana.
“The time has come for us to change the narrative. The future begins today and it starts with us,” the deputy minister said, stressing the need for the country to invest more in refining and value addition to transform its mining sector.
Stakeholders at the convention welcomed the GoldBod’s refinery project as a step towards industrialisation and a shift from raw mineral exportation to value-added production. Analysts say the refinery could position Ghana as a leading hub for gold refining in West Africa, boosting the country’s revenue and helping it retain a larger share of the benefits from its mineral resources.
