Why Ghana has banned unrefined gold exports—GoldBod official provides details
The government’s decision to prohibit the export of unrefined gold doré is intended to move Ghana beyond the role of a supplier of raw minerals and enable the country to capture greater economic value from its gold resources, the Ghana Gold Board (GoldBod) has said.
Ghana has taken decisive action to shift its gold sector from a raw material exporter to a value-added producer, prohibiting the export of unrefined gold doré. This move, according to the Ghana Gold Board (GoldBod) Media Relations Officer, Prince Kwame Minkah, aims to bolster domestic value generation, formalize the artisanal and small-scale gold market, and enhance transparency and traceability.
The policy, which is part of a broader government strategy to end exports of raw minerals by 2030, has already seen 170 tonnes of gold redirected through formal channels in the past 1.5 years, significantly reducing gold smuggling. Minkah emphasized that retaining refining and value-adding activities within Ghana would create jobs, boost refining capacity, and increase foreign exchange retention.
This initiative aligns with Ghana's quest for resource sovereignty and a growing continent-wide push for local beneficiation and value addition in natural resource sectors.
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