By: Business Desk
The Ghana Gold Board, in collaboration with Gold Coast Refinery, has officially commenced the local refining of gold sourced from the artisanal and small-scale mining (ASM) sector, marking a significant milestone in the country’s efforts to add value to its mineral resources and boost economic growth.
The initiative aims to formalize the ASM industry and retain greater economic benefits within the domestic economy by refining gold locally, rather than exporting raw gold. This move is expected to increase government revenue, create jobs, and stimulate economic growth. By refining gold locally, Ghana can also ensure that the country gets a better price for its gold, as refined gold attracts higher prices on the international market.
Ghana Launches Local Gold Refining Initiative to Boost Economic Growth
The commencement of the refining process was highlighted by a tour of the Gold Coast Refinery led by the Minister for Finance, Dr. Cassiel Ato Forson, alongside the Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, Esq. The visit underscored the government’s commitment to strengthening oversight, transparency, and value addition in the gold sector.
With the new arrangement, gold produced by artisanal and small-scale miners will now be refined in Ghana to international standards, ensuring full traceability from source to export. This is expected to curb illegal trading, enhance regulatory compliance, and improve Ghana’s standing in the global gold market.
The initiative is projected to create jobs, support local industries, and provide sustainable livelihoods for thousands of people within the ASM value chain. Stakeholders believe the move will transform small-scale mining into a more structured, responsible, and economically rewarding sector for the country.
Ghana Launches Local Gold Refining Initiative to Boost Economic Growth
“The launch of local gold refining is a game-changer for Ghana’s mining sector,” said Dr. Forson. “It will not only increase government revenue but also create jobs and stimulate economic growth. We are committed to ensuring that the benefits of our natural resources are shared by all Ghanaians.”
The Ghana Gold Board and Gold Coast Refinery are working closely with international partners to ensure that the refined gold meets global standards. The initiative is expected to increase Ghana’s gold exports and improve the country’s reputation as a reliable supplier of high-quality gold.
Overall, the launch of local gold refining is a significant step towards achieving Ghana’s goal of becoming a major player in the global gold market.
Source: www.thenewindependentonline.com
