By: Ebenezer Adu-Gyamfi / Emmanuel Ayiku for GhanaianNewsCanada 20/1/20226
Ghana to Refine Gold Locally After Historic GoldBod-Gold Coast Refinery Agreement
In a groundbreaking move for the country’s mining sector, the Ghana Gold Board (GoldBod) has signed a historic agreement with Gold Coast Refinery Limited, backed by South Africa’s Rand Refinery, to refine Ghana’s gold domestically. The deal, finalized in Accra on 20 January 2026, marks a major step toward transforming Ghana’s gold industry from exporting raw minerals to producing high-quality refined gold locally.
The partnership is set to commence operations on 1 February 2026, with plans to refine about one metric tonne of gold weekly initially. The refinery aims to produce gold of at least 99.9% purity, meeting the highest international standards.
According to officials, the agreement will ensure more value remains in the Ghanaian economy by reducing reliance on foreign refineries. It also strengthens traceability of gold from mine to market, enhances job creation, and boosts tax revenue.
Ghana’s government, through GoldBod, will hold a 15% free-carried interest in the refinery, securing a direct stake in the profits while positioning the country to achieve London Bullion Market Association (LBMA) certification, enabling access to premium global markets.
“This landmark deal represents a major milestone for Ghana’s gold sector,” said a GoldBod spokesperson. “It aligns perfectly with our national strategy to add value to our mineral resources and create sustainable economic benefits for Ghanaians.”
Industry experts say this move could revolutionize the local gold industry, increasing Ghana’s competitiveness internationally while retaining more revenue within the country.
With this agreement, Ghana not only moves closer to full gold value addition but also sets a strong example for other African nations seeking to capitalize on their natural resources.
