The Ghana Gold Board (GoldBod) has announced plans to establish a fully state-owned gold refinery to advance local value addition and strengthen Ghana’s place in the global gold market.

Chief Executive Officer of GoldBod, Sammy Gyamfi, revealed the initiative during the maiden Mining and Minerals Convention in Accra, noting that it forms part of the “reset agenda” of the Mahama administration. The project, he said, seeks to move Ghana from exporting raw doré to producing refined bullion.

“It is unacceptable that Ghana, a continental leader in gold production, continues to export raw gold without substantial value addition,” Gyamfi stressed.


Refinery and Laboratory at Kotoka International Airport

The refinery will be built on land already secured at the cargo village of Kotoka International Airport. Alongside it, GoldBod will develop an ultra-modern, ISO-certified assay laboratory.

The new facility will replace Ghana’s current assay regime with the internationally recognized “fire assay” method, ensuring credibility and transparency in the testing and export of gold.

“The Gold Board is determined to transform Ghana’s assay system from XRF and water density methods to the golden standard of fire assay, which will be applied to all gold produced and exported,” Gyamfi explained.

Beyond Refining: Gold Village Initiative

Looking ahead, Gyamfi disclosed that GoldBod plans to establish a “Gold Village” envisioned as a continental hub for jewellery design, manufacturing, and ornament production. This would further diversify Ghana’s role in the global gold value chain.

GoldBod is also collaborating with the Bank of Ghana and local refineries, including the Gold Coast Refinery, to begin refining gold purchased and exported by the Board. Gyamfi commended the Chamber of Mines for their readiness to work with the government to ensure that large-scale mining companies also refine their gold locally.