The Ghana Gold Board has signed a Gold Refining Agreement with Gold Coast Refinery Company Limited, marking a major milestone in Ghana’s drive to deepen value addition and strengthen its gold value chain.

Speaking at the signing, the Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, outlined key benefits of the agreement, describing it as the first-ever local gold refining arrangement between the Government of Ghana and a Ghana-based refinery.

He noted that the agreement will retain millions of dollars in refining charges within the Ghanaian economy, create direct and indirect jobs through 24-hour operations, increase tax revenues, reduce gold undervaluation and purity losses, and ensure adequate supply of refined gold and silver for local jewellers. The deal also positions Ghana for LBMA-certified refining, enhances the integrity of gold exports, and strengthens ASM formalisation and full traceability.

This agreement marks a decisive step toward local value addition, job creation, and higher returns from Ghana’s gold.