The Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi Esq., has revealed that the Board, in partnership with the Bank of Ghana, will collaborate with local refineries such as the Gold Coast Refinery to begin refining gold locally, ending Ghana’s heavy reliance on exporting raw gold.
Speaking at the Mining and Mineral Conversion Conference in Accra on Tuesday September 9, 2025, Mr. Gyamfi said it is a “national shame” that Ghana, despite being a continental leader in gold production, still exports doré (raw gold) instead of bullion (refined gold).
He stressed that the Mahama-led administration’s reset agenda seeks to urgently change this narrative by prioritizing value addition.
He commended the Chamber of Mines for indicating their willingness to work with the Gold Board to ensure local refining of gold produced by large-scale mining companies.
Mr. Gyamfi further disclosed that the Gold Board has secured land at the Cargo Village of the Kotoka International Airport to construct an ultra-modern ISO-certified Assay Laboratory. The laboratory, he said, will upgrade Ghana’s assay regime from XRF and water density methods to the international gold standard of fire assay for all gold produced in and exported from Ghana.
On the same parcel of land, he announced plans to establish a wholly state-owned international-standard gold refinery to support the local refining agenda. Additionally, the Board intends to develop a “Gold Village” in Ghana, envisioned as a continental hub for gold jewellery and ornament production.
Mr. Gyamfi noted that financial institutions must play a critical role in supporting investments in refining, minting, and fabrication of minerals into jewellery, coins, tablets, and other castings for both domestic use and exports. He urged stakeholders to fund the mining sector differently in order to maximize its benefits.
He stressed that the mining sector must move from raw exports to beneficiation, from middlemen to tech-enabled trade, and from youth as laborers to youth as innovators and owners.