Look beyond the losses – Small-scale miners say gold refinery could cut youth unemployment

The Association of Small Scale Miners is urging stakeholders to consider the potential job creation and reduction of youth unemployment that could arise from a local gold refinery, rather than solely focusing on the costs involved. Abdul Razak Alhassan, Communication Director of the Association, expressed these views during an interview on Joy News’ PM Express.

He emphasized that while the gold refining process presents significant challenges, the broader economic benefits should not be overlooked. Alhassan pointed out that the gold mining industry already comes with numerous operational hurdles, and he urged industry players to thoroughly assess the sector before entering it. The Ghana Gold Board recently mandated Self-Financing Aggregators to refine gold doré locally before exporting it, effective from September 1, 2026.

This directive aims to deepen local value addition in Ghana's gold industry and is part of the board's mandate under the Ghana Gold Board Act, 2025, to regulate gold's purchase, sale, refining, value addition, and export. Although the new requirement may increase costs for operators, Alhassan believes the potential employment opportunities generated by the refinery could outweigh these financial burdens.

He argued that the policy could benefit the wider economy by creating jobs for young people and reducing youth unemployment. According to him, assessing the policy's potential economic and social gains is necessary, considering the refinery's expected employment opportunities for youth.