GoldBod Orders Local Refining Of Gold Before Export
Sammy Gyamfi The Ghana Gold Board (GoldBod) has directed all Self-Financing Aggregators (SFAs) to refine gold doré locally before export, in a move to deepen value addition in the Read More... The post GoldBod Orders Local Refining Of Gold Before Export appeared first on DailyGuide Network .
The Ghana Gold Board (GoldBod) has mandated Self-Financing Aggregators (SFAs) to refine gold doré domestically prior to export, in an effort to boost value addition within the nation's gold industry. Issued in a compliance notice on August 24, 2026, the directive comes into effect on September 1, 2026, and applies to all SFAs and their approved offtakers.
As per the new regulation, SFAs will no longer be allowed to export gold doré unrefined. Every agreement between an SFA and an approved offtaker must stipulate local refining before export. GoldBod's mandate, as per the Ghana Gold Board Act, 2025 (Act 1140), includes overseeing gold's purchase, sale, refining, value addition, and export.
Approved refining must occur at a refinery approved by GoldBod, subject to regulatory guidelines. The Board retains the prerogative to choose the refinery for specific consignments and to issue additional operational directives. The cost of refining will be shouldered by either the SFA or the approved offtaker, contingent on their commercial agreement.
The refined gold must be paid for before it's exported. Existing contracts will necessitate amendments by August 31, 2026, to include the mandatory local refining provision. GoldBod may request proof of such amendments at any time. As of September 1, the Board will only process export requests after verifying that the gold has been refined in Ghana, refining fees have been settled, and all assay, regulatory, and export prerequisites have been satisfied.
The Board cautioned that exporting or attempting to export unrefined gold doré violates the conditions of an SFA license. Non-compliant operators might face penalties, such as export approval denial or suspension, licence suspension or revocation, administrative sanctions, and other enforcement actions under the Ghana Gold Board Act and relevant regulations.
GoldBod asserts that the directive seeks to strengthen gold trade regulation and ensure greater value retention in the domestic economy through refining and value addition before export.
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