The Ghana Gold Board (GoldBod) has entered into a gold refinery agreement with Royal Ghana Gold Limited.
Under the deal, GoldBod will supply up to one metric tonne of gold weekly to the refinery. This marks the Board’s second major partnership in the refining sector, following a similar agreement with Gold Coast Refinery, as part of efforts to promote mineral value addition.
Speaking at the signing ceremony on May 25, 2026, GoldBod CEO Sammy Gyamfi stated that the initiative forms part of a broader plan to ensure that all minerals mined in Ghana are refined locally before export by 2030. He emphasized that the government is determined to end the long-standing practice of exporting raw minerals.
He noted that as of January 2025, Ghana lacked the capacity to refine its gold domestically, describing the situation as unacceptable for a country known globally for gold production.
Bank of Ghana Governor Dr Johnson Asiamah highlighted that refining natural resources locally would significantly improve Ghana’s balance of payments and create jobs. He added that the central bank’s minority stake in Royal Ghana Gold Limited is aimed at strengthening oversight and supporting the country’s value addition agenda.
The CEO of Royal Ghana Gold Limited, Eric Frimpong, affirmed the refinery’s readiness to operate at full capacity, aligning with the government’s 24-hour economy initiative. He also disclosed plans to secure London Bullion Market Association accreditation to enhance Ghana’s competitiveness in the global gold refining industry.
