We all need to chip in – Ken Ashigbey warns local gold refining will come with pain
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 drive to refine gold locally may lead to increased costs for industry players, according to Dr Ken Ashigbey, CEO of the Ghana Chamber of Mines. Speaking on Joy News' PM Express, he emphasized that local content initiatives carry costs. Dr Ashigbey stressed that all stakeholders must contribute to the process, and government must play its part by reviewing taxes and levies that add to the refining cost.
He also called on private refinery owners to invest in technology to reduce their operating costs. Energy costs, particularly the price of power, are a major concern, and he suggested that cheaper hydroelectric power could be considered. Solar investments under the 24-hour economy are another potential solution. GoldBod has mandated Self-Financing Aggregators to refine gold doré in Ghana before export from September 1, 2026, eliminating unrefined gold doré exports.
The directive means the cost of refining will be borne by the aggregator or its off-taker. The country aims to achieve LBMA accreditation for at least one local refinery by 2030. While Dr Ashigbey believes the push for local value addition is beneficial, he stressed that the transition must be managed collectively, with government and industry working together to minimize the financial impact.
Written by urgent.news from Joy Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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