GoldBod refining 7.1 tonnes of gold locally – Sammy Gyamfi
The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, says 7.1 metric tonnes of gold purchased by the institution are currently being refined in Ghana.
The Ghana Gold Board (GoldBod) CEO, Sammy Gyamfi, announced on Twitter Spaces that 7.1 metric tonnes of gold acquired by the institution are currently undergoing refinement in Ghana. This local refining process aims to keep fees that would otherwise have been paid to foreign countries where the gold was processed earlier. By refining the gold locally, more value remains within Ghana's economy, according to Mr. Gyamfi.
He emphasized that the refining fees, which could have gone to Dubai and other countries, are now staying in Ghana to support economic management. Furthermore, Mr. Gyamfi highlighted that Ghana's expanding refining capacity has positioned the country to play a more significant role in the international gold market. He credited the LBMA accreditation that Gold Coast Refinery has secured as a major development for the sector.
Additionally, Mr. Gyamfi revealed that profiling licensed gold buyers in Ghana is aiding the Board in tracking the origin of gold entering the formal market.
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Also reported by 1 other outlet
- GoldBod refining 7.1 tonnes of gold locally – Sammy Gyamfi myjoyonline.com
