Gov’t must put its skin in the game – Chamber of Mines demands tax, power relief for local gold refining

The Ghana Chamber of Mines has urged the government to support local gold refining by reducing the costs associated with it. Dr Ken Ashigbey, the Chamber's CEO, emphasized that government must actively participate in making local refining commercially viable, stating, "Government needs to put its skin in the game." The Chamber's push for local content will lead to additional costs, but Ashigbey argued that the burden should not be placed solely on the industry.

He stressed, "But again, all of us need to chip in. The more we do in this country, and the more we all work together, government needs to put its skin in the game."

Ghana is shifting towards ending the export of raw gold and increasing domestic value addition. As of September 1, 2026, only refined gold doré will be allowed for export, which must be done at a GoldBod-approved or designated refinery. Refining costs are to be borne by the aggregator or its approved offtaker. Dr Ashigbey suggested that the government could review taxes and levies affecting refineries to ease the transition, adding, "The issue, of course, is that it is coming from the taxes and the levies that are on; government would have to look at that, and I know that conversation is going on."

He also highlighted power costs as a major concern and proposed that the government could grant refineries preferential access to cheaper hydroelectricity or solar energy due to their strategic importance. "Because of the criticality of refineries, is it possible that in the energy mix, we will give them, you know, a lot more of the hydro that is cheaper?" he asked.

Dr Ashigbey believes local refining is a worthwhile goal, but the burden must be shared by government and industry for collective reduction of costs.