Local gold refining will come with additional costs – Chamber of Mines
The CEO of the Ghana Chamber of Mines, Dr Ken Ashigbey, has warned that Ghana’s push to refine gold locally will impose additional costs on industry players.
Ghana's Chief Executive Officer at the Ghana Chamber of Mines, Dr Ken Ashigbey, has warned that the country's efforts to locally refine gold will come with added costs for industry players. Speaking to JoyNews' PM Express, Dr Ashigbey underscored the necessity of the move, while also cautioning that the financial burden should not solely fall on mining companies.
Instead, government and industry stakeholders must collaborate to make local refining economically viable. He highlighted the need for government to review taxes and levies, while private refinery operators should invest in technology to cut down operating expenses. Energy costs, he pointed out, remain a significant consideration for the refining industry, suggesting possible government intervention to enable refineries to access cheaper hydroelectric power.
Additionally, Ghana's plan to mandate local refining for gold doré before export, effective September 1, 2026, is part of a broader initiative to increase value from the country's mineral resources and decrease the export of raw minerals. Dr Ashigbey emphasized the importance of collective efforts, including stronger collaboration between government and industry, to ensure the policy achieves its economic goals without imposing unsustainable costs on businesses.
Written by urgent.news from Joy Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
