Gold Refining Costs: Small-Scale miners say Ghana must prioritise jobs and value addition
The Association of Small-Scale Miners says Ghana’s push to refine gold locally should not be viewed only through the lens of the additional costs it could impose on industry players.
The Association of Small-Scale Miners in Ghana argues that the country's push to refine gold locally should not be viewed solely through the lens of increased costs. Abdul Razak Alhassan, the Communication Director of the association, emphasizes the importance of considering the jobs and economic benefits that could arise from local refining.
This stance follows the Ghana Gold Board's directive to all Self-Financing Aggregators, effective from September 1, 2026, requiring them to refine gold doré in Ghana before exporting it. The refining cost will be shouldered by the SFA or its approved offtaker. While Alhassan acknowledges the potential for higher refining costs, he argues that miners and aggregators already face significant expenses before obtaining the gold-bearing ore.
He suggests that operators in the small-scale mining sector must weigh these costs alongside the refining costs. Alhassan believes that requiring miners and aggregators to absorb the refining cost should not be deemed unreasonable, as it could benefit the country by creating employment opportunities and reducing youth unemployment.
He maintains that the employment potential from a stronger domestic refining industry should be a part of the policy debate.
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