Accra: Dr Cassiel Ato Forson, the Minister of Finance, has lauded the Gold Coast Refinery as a pivotal achievement in Ghana's ongoing industrialisation and economic transformation efforts following his inspection of the facility. He praised the management and staff for their success in establishing and operating what he described as a 'world-class gold processing facility.'
According to Ghana News Agency, Dr Forson was accompanied on the visit by Mr Sammy Gyamfi, the Chief Executive Officer of GoldBod, and Mr Richard Nunekpeku, the Deputy Chief Executive Officer. They were received by Dr. Saeed Deraz, Chairman and CEO of Gold Coast Refinery Limited, who guided them through the facility.
Dr Forson emphasized that the project is a reflection of Ghana's long-standing goal to transition from the export of raw minerals. He noted that the facility represents a significant step in the country's industrial and economic journey, aligning with a vision first articulated by President John Dramani Mahama in 2016. This vision aims for Ghana to refine its gold locally, thereby retaining more value from its natural resources.
With a refining capacity of up to two tonnes of gold per week, Ghana is gradually moving away from exporting raw gold and instead focusing on exporting fully refined gold. Dr Forson highlighted that this transition is expected to enhance value addition within the mining sector, create skilled jobs, and significantly bolster the nation's foreign exchange earnings.
The Finance Minister also disclosed a collaborative effort with GoldBod to establish a modern fire assay laboratory by the end of the year. This development aims to improve the scientific verification of gold quality and valuation within the country, a move that will enable Ghana to assess the true value and purity of its gold for the first time since independence. Such advancements are expected to improve royalty assessments, enhance transparency, and increase national revenue.
Dr Forson added that this initiative is part of a broader economic reset strategy that focuses on institutional strengthening and maximizing the benefits derived from Ghana's natural wealth. The inspection highlights the government's renewed focus on downstream mineral processing as a key pillar for economic diversification, revenue generation, and sustainable industrial growth.