GoldBod Signs 2nd Local Refining Deal to End Raw Gold Exports by 2030
Updated
Updated · GhanaWeb · May 26
GoldBod Signs 2nd Local Refining Deal to End Raw Gold Exports by 2030
3 articles · Updated · GhanaWeb · May 26
GoldBod on May 25 signed its second major local gold refining partnership, this time with Royal Ghana Gold Refinery, expanding Ghana’s push to process gold domestically.
The deal supports President John Dramani Mahama’s plan to stop exporting raw minerals by 2030, with GoldBod tasked to lead value addition and retain more mineral wealth locally.
Sammy Gyamfi said Ghana had no local gold refining capacity when the administration took office on Jan. 7, 2025, leaving output from both large-scale and small-scale miners exported in raw form.
Royal Ghana Gold Refinery joins an earlier GoldBod agreement with Gold Coast Refinery, marking a broader effort to build domestic processing capacity in one of the world’s major gold-producing nations.
Is Ghana's gold refining push an economic plan, or a strategic move to build reserves amid global instability?
As Ghana keeps gold profits local, what stops the new state-backed system from exploiting small-scale miners?
Can Ghana’s new refineries outcompete global hubs in Switzerland and Dubai without the crucial LBMA accreditation?
Ghana’s New Gold Standard: Domestic Refining, LBMA Certification, and the Path to Economic Resilience
Overview
Ghana is set to launch domestic gold refining operations in early 2026, marking a major shift in its gold sector. By signing a formal agreement with key partners and leveraging the Gold Coast Refinery—the first state-of-the-art facility in West Africa—Ghana aims to add value locally and reduce dependence on international refineries. This move is designed to keep more economic value within the country, build technical skills, and support broader industrial growth across Africa. The initiative also positions Ghana to reshape its role in the global gold market and drive sustainable economic development.