The Ghana Gold Board (GoldBod) has acquired a 0.6-acre site at the cargo village of Kotoka International Airport to establish a modern, ISO-certified assay laboratory and a state-owned gold refinery. This initiative aims to enhance the value of Ghana’s gold by transitioning from the current XRF and water density assays to the internationally recognized fire assay standard for all gold produced and exported from the country.
During the Mining and Minerals Convention 2025, CEO Sammy Gyamfi emphasized that this refinery will significantly boost local refining capacity, shifting Ghana’s exports from semi-pure doré to refined bullion. To facilitate this process, GoldBod is collaborating with the Bank of Ghana and local refineries, including Gold Coast Refinery, to ensure the local refining of gold procured and exported by the board.
This development coincides with GoldBod’s initiative to locally purchase 20% of the gold output from seven major mining companies in Ghana. Deputy Minister of Lands and Natural Resources, Yusif Sulemana, highlighted the need for improved infrastructure and local investment in mining, addressing the challenges posed by unsustainable mining practices and their environmental impacts.
He noted that the government is taking strategic measures to align with global best practices, including a thorough review of mining legislation and policies through stakeholder engagement. Sulemana urged a paradigm shift in the mining narrative, emphasizing that the time for change is now.