Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, has announced a major policy shift aimed at ending the export of raw gold and strengthening value addition within Ghana’s mining sector.
Speaking on PM Express Business Edition with George Wiafe, he acknowledged that despite Ghana’s long history as a leading gold producer, the country has consistently failed to maximise returns due to limited local refining capacity.
According to him, although some refineries exist, they have historically lacked the institutional backing needed to process significant volumes of gold before export, leaving the country dependent on exporting dore, or unrefined gold.
Mr Gyamfi revealed that the directive to transform the sector came directly from President John Dramani Mahama, who tasked the Gold Board with transitioning Ghana from raw gold exports to refined bullion in order to optimise benefits across the mineral value chain.
He said the Board has already begun implementing this vision, starting with the introduction of local value addition measures focused on domestic refining.
A key step in that process is a newly signed agreement with Gold Coast Refinery, which will see the allocation of gold for weekly refining based on the facility’s operational capacity. Initial trial runs have already been conducted, including a 200-kilogram test batch, with early technical challenges now being addressed.
Mr Gyamfi noted that the long-term target is to scale up refining output to as much as one metric tonne of gold per week, significantly boosting Ghana’s capacity to export refined bullion instead of raw material.
He added that government officials, including representatives from the Finance Ministry, have been actively involved in the rollout, underscoring the importance of the initiative at the highest levels.
As the programme gains momentum, the Gold Board plans to gradually reduce raw gold exports while increasing the volume of refined gold shipped abroad.
Mr Gyamfi stressed that the transition is already in progress, describing it not as a future ambition but an active policy shift currently being implemented.
