GoldBod must bear the cost – Small-scale miners back higher operational costs to protect jobs

The Association of Small-Scale Miners has supported GoldBod's choice to absorb higher operational costs for refining gold locally in Ghana. Abdul Razak Alhassan, the Communication Director of the Association, argued that the policy could yield wider economic and employment benefits for the country. Alhassan acknowledged that gold mining poses significant challenges and costs, but insisted that small-scale miners should shoulder the additional expenses if the local refining policy is to serve its intended purpose.

"If they are also taking the other side of it, I don't think there should be any big deal," Alhassan said. The policy requires all Self-Financing Aggregators to refine gold doré in Ghana before exporting, starting September 1, 2026. This means that unrefined gold doré will no longer be approved for export, and must undergo refining at a refinery designated by GoldBod.

The cost of refining will be borne by the Self-Financing Aggregator or its approved Offtaker, depending on their commercial arrangements. Alhassan believes the refinery's potential to create jobs for youth should be considered alongside the higher operating costs. "Because when this refinery kicks off, as my other colleague said, they have some number of people, youth, that they will employ."

He stressed that while the financial burden is a concern, the wider economic and employment benefits justify GoldBod's obligation to absorb the costs. "And I think they have to bear the cost."