80–90% of gold purchased and exported is now refined in Ghana– Sammy Gyamfi
The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, says between 80 and 90 per cent of the gold purchased and exported by the institution is now refined locally before shipment.
Sammy Gyamfi, Chief Executive Officer of the Ghana Gold Board, told the Public Accounts Committee that 80 to 90 percent of gold purchased and exported by the institution is now being refined locally before being shipped. This local refining is helping Ghana retain more economic value, create jobs, and benefit from the silver by-products of the refining process.
Speaking before the committee on Tuesday, Gyamfi stated that GoldBod is on track to meet and potentially exceed its 2025 gold purchase and export targets, as well as surpassing its foreign exchange generation performance for the year. He emphasized that the shift towards local refining is transforming Ghana's approach to adding value to its mineral resources, noting that local refineries operate around the clock, providing employment opportunities for the country's youth.
This local refining is also allowing Ghana to keep more economic value within its borders, as fees previously paid to overseas refineries are now being paid to domestic operators. Additionally, the recovered silver from the refining process is being sold to generate foreign exchange and support Ghana's fabrication industry, further adding value to the country's mineral resources.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
