GoldBod to establish Ghana’s first State-Owned Gold refinery – Sammy Gyamfi

Plans are underway for Ghana to refine its own gold locally.

The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has announced that Ghana will soon have its first state-owned gold refinery to process and export bullion instead of raw doré.

He made the announcement at the maiden edition of the Mining and Minerals Convention held at the Kempinski Gold Coast Hotel in Accra on Tuesday, September 9, 2025. According to him, the gold refinery will be built at the Kotoka International Airport’s cargo village, alongside a modern assay laboratory, to transform the country’s gold export regime.

Mr. Gyamfi described it as unacceptable that a country which has consistently ranked among the top gold producers in Africa still exports unrefined gold. “It is a national shame that after decades of leadership in gold production, Ghana still exports doré instead of bullion. The refinery will change this narrative,” he stressed.

The refinery project, he said, is part of the government’s broader reset agenda to retain more value from gold production in Ghana. The GoldBod is partnering with the Bank of Ghana and local refineries such as the Gold Coast Refinery to ensure refined gold becomes the new standard for export.

Mr. Gyamfi further disclosed that plans were underway to establish a “Gold Village” in Ghana as a continental hub for gold jewellery and ornament production. This initiative, he added, would create jobs, attract investment, and promote value addition within the local economy.

He also praised the Chamber of Mines for expressing readiness to collaborate with GoldBod to refine gold produced by large-scale companies locally. According to him, this collaboration will help Ghana transition from a raw material exporter to a value-added player in the global gold market.

Highlighting the long-term benefits, the GoldBod CEO emphasized that the refinery would boost government revenue, strengthen foreign exchange reserves, and enhance investor confidence in the mining sector. “Our aim is to maximize gold production, optimize national benefit, and ensure Ghana takes its rightful place in the global gold value chain,” Mr. Gyamfi concluded.