The Chief Executive Officer of GoldBod, Sammy Gyamfi, has toured the Royal Ghana Gold Refinery as part of ongoing efforts to finalize a refining services agreement aimed at boosting local value addition in Ghana’s gold sector.
The visit forms part of a broader strategy by the governing National Democratic Congress (NDC), led by John Dramani Mahama, to retain greater value from the country’s natural resources through domestic processing and industrialization.
During the tour, Mr. Gyamfi and his delegation were taken through the refinery’s operations, including its gold assaying, refining, and quality assurance processes. Officials of the facility highlighted its capacity to refine gold to international standards, positioning it as a key partner in Ghana’s quest to reduce reliance on foreign refineries.
Speaking after the inspection, Mr. Gyamfi emphasized the importance of strengthening local refining capacity to maximize revenue from gold exports. He noted that exporting raw gold deprives the country of significant economic benefits, including job creation, technology transfer, and increased foreign exchange earnings.
“The objective is clear—Ghana must move beyond being just a producer of raw materials. By refining our gold locally, we can capture more value within the economy and create sustainable opportunities for our people,” he stated.
The proposed agreement between GoldBod and the Royal Ghana Gold Refinery is expected to formalize collaboration on refining services, ensuring that a substantial portion of Ghana’s gold output is processed domestically.
Industry observers say the move aligns with global best practices among resource-rich countries seeking to industrialize their extractive sectors. If concluded, the deal could mark a significant step toward repositioning Ghana as a hub for gold refining in West Africa.
The initiative also underscores the Mahama administration’s renewed focus on economic transformation through value addition, with the gold sector identified as a key driver of growth.
Story By: Eric Boateng
