Ghana has taken another significant step toward strengthening its mineral value chain, following a landmark refinery agreement between the Ghana Gold Board (GoldBod) and Royal Ghana Gold Refinery. The deal, spearheaded by GoldBod Chief Executive Officer Sammy Gyamfi, is expected to accelerate the country’s push toward local gold refining and value addition.
Under the terms of the agreement, GoldBod will supply up to one metric tonne of gold per week to Royal Ghana Gold Refinery for processing. The initiative forms part of a broader government strategy aimed at ensuring that Ghana maximizes economic returns from its mineral resources before export.
This agreement marks the second major refinery partnership secured by GoldBod in 2026, following an earlier deal with Gold Coast Refinery. Together, these partnerships signal a growing commitment to building domestic refining capacity and reducing reliance on foreign processing.
Speaking at the signing ceremony, Gyamfi reaffirmed the government’s long-term vision, highlighting the commitment of President John Mahama to ensuring that, by 2030, all minerals mined in Ghana are refined locally. According to him, this policy direction is key to transforming the country’s resource-based economy into an industrialized one.
The agreement is expected to deliver multiple economic benefits, including the retention of refining fees within the country, recovery of valuable by-products, and the creation of employment opportunities across the mining and processing sectors. It also positions Ghana to emerge as a leading gold refining hub on the African continent.
Key stakeholders, including the Bank of Ghana and Royal Ghana Gold Refinery, have pledged their support for the initiative. Their collaboration is seen as critical to advancing Ghana’s broader industrialization agenda and driving sustainable economic transformation.
With global demand for refined gold products on the rise, the partnership underscores Ghana’s intent to move beyond raw exports and capture greater value from its abundant natural resources.
