Accra — May 27, 2026 — Ghana has signed new agreements with local refiners to process more gold domestically, strengthening efforts to capture greater value from its mining sector. The initiative, led by the Ghana Gold Board (GoldBod), aims to retain refining fees, boost export earnings, and create jobs within the country.
Under the latest deal, GoldBod will supply Royal Gold Refinery with up to one metric ton of unrefined gold per week for processing. This follows a similar agreement signed earlier with Gold Coast Refinery, marking a growing push to expand Ghana’s refining capacity. Authorities say the program is part of a broader strategy to refine locally all gold purchased from artisanal and industrial miners.
GoldBod currently purchases about 2.45 metric tons of gold weekly from artisanal miners and 0.55 metric tons from large‑scale companies. Since 2022, major miners have been required to sell 20% of their annual output to the state, a quota set to rise to 30% in June.
By refining more gold domestically, Ghana expects to retain profits from refining fees, recover valuable byproducts such as silver, and increase export revenues from refined gold. The initiative has already generated employment, with 162 workers hired at Gold Coast Refinery earlier this year.
Gold accounts for 67.2% of Ghana’s export revenues, making the sector critical to the economy. While the expansion promises significant gains, challenges remain in ensuring fair compensation for artisanal miners and preventing smuggling amid high global gold prices.
