Can we give refineries more cheap power? – Chamber of Mines pushes energy solution for local gold refining
The Ghana Chamber of Mines is calling for targeted energy interventions to help make local gold refining commercially viable as Ghana moves to retain more value from its gold resources.
The Ghana Chamber of Mines is advocating for targeted energy interventions to make local gold refining more commercially viable as Ghana aims to retain more value from its gold resources. Dr Ken Ashigbey, CEO of the Chamber, highlighted that operational expenses, including power costs, taxes, and other factors, could increase the cost of local refining.
He emphasized the need for government and industry collaboration to reduce these costs. Dr Ashigbey suggested that policy decisions could lead to cheaper power access for refineries, particularly hydroelectricity, a key concern for energy costs. He also mentioned plans under the 24-hour economy to develop large solar plants that could lower energy costs to around 3 to 4 cents per kilowatt-hour.
The Ghana Gold Board Act, 2025, mandates local processing of gold doré before export, effective September 1, 2026, eliminating unrefined gold doré exports. This move aims to increase local value retention in the gold industry, with the Chamber believing that such beneficiation is necessary but must be implemented collaboratively.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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