Gold Refining Costs: Small-Scale miners say Ghana must prioritise jobs and value addition

The Association of Small-Scale Miners in Ghana has urged the government to prioritize employment opportunities and local value addition when implementing a new policy requiring gold doré to be refined locally before export. Abdul Razak Alhassan, the Communication Director of the Association, argued that while the refining costs could be significant, the wider economic benefits of creating jobs and retaining more value from Ghana's gold should also be taken into account.

The policy, which takes effect on September 1, 2026, was directed by the Ghana Gold Board (GoldBod) and requires gold purchased under arrangements with approved offtakers to be refined domestically. The refining cost will be borne by the Self-Financing Aggregator (SFA) or its approved offtaker, depending on their commercial arrangement.

Alhassan acknowledged concerns over the cost implications, noting that operators in the small-scale mining sector already face significant expenses before obtaining the gold-bearing ore. He argued that the cost of operating in the sector must be considered alongside the refining cost, suggesting that the requirement should not be seen as unreasonable.

Alhassan believes that the employment opportunities arising from a stronger domestic refining industry should be a part of the policy debate, as the refinery is expected to employ a substantial number of people, including youth.