Accra: The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has announced that the state agency has signed a new agreement with Royal Ghana Gold Refinery to refine gold locally as part of the government's broader value addition agenda. This agreement marks the second major local refining partnership by GoldBod, following an earlier deal with Gold Coast Refinery aimed at ending Ghana's long-standing practice of exporting raw gold.
According to Ghana Web, the initiative was discussed with board members on Monday, May 25, 2026. Sammy Gyamfi emphasized that President John Dramani Mahama's administration is determined to transform Ghana's dependence on the export of unprocessed minerals. The agreement with Royal Ghana Gold Refinery is a significant step in this direction.
Gyamfi highlighted that Ghana previously lacked the capacity to refine its own gold when the current administration assumed office in January 2025. At that time, all gold produced from both the large-scale and small-scale sectors was exported in its raw state, a situation he described as unacceptable for a country globally recognized for its gold production. He stressed the importance of refining minerals locally to ensure value addition and local value retention.
Furthermore, Gyamfi explained that GoldBod has been tasked with leading the government's strategy to end raw mineral exports before the end of the decade. President Mahama has announced his vision to cease the export of raw minerals by the year 2030, and GoldBod has been given the mandate to lead this process. This initiative represents a significant shift in Ghana's approach to its mineral resources, aiming to enhance the country's economic gains from its gold production.