GoldBod refining 7.1 tonnes of gold locally – Sammy Gyamfi

The Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, disclosed that 7.1 metric tonnes of gold purchased by the organization are currently undergoing refinement within the country. According to Gyamfi, this local refining process is aiding Ghana in retaining fees that would otherwise have been paid to foreign nations where the gold was typically processed.

On a recent Twitter Spaces discussion held on August 9, 2026, Gyamfi emphasized that this development is playing a crucial role in retaining more value from Ghana's gold industry within the domestic economy. He elaborated, "7.1 metric tonnes of the gold bought by GoldBod is now being refined in Ghana. The refining fees that would have been given to Dubai and other countries are all staying in Ghana to help the management of our economy."

Furthermore, Gyamfi highlighted Ghana's expanding refining capabilities, asserting that the nation is better positioned to make a more significant impact in the international gold market. The achievement of LBMA accreditation by the Gold Coast Refinery was cited as a major milestone for the sector. Additionally, Gyamfi explained that profiling licensed gold buyers is assisting the Board in tracking the origins of gold entering the formal market.

"We are profiling all persons with a license to buy gold in Ghana, and it is helping us know where all the gold buys are coming from," he stated.