Government sets 2027 deadline for local refining of 70% of small-scale gold

Ghana aims to refine at least 70% of its artisanal and small-scale gold locally by December 2027, according to Finance Minister Dr Cassiel Ato Forson. This target is part of an effort to retain more value from the country's mineral resources and create job opportunities through local processing. The government plans to expand mineral processing and refining to reduce the export of raw resources, promote technology transfer, and boost industrial development.

The initiative is one of many under Pillar Four of the government's economic program, focusing on developing mineral industries such as manganese, bauxite, lithium, and gold. The government has set an ambitious goal of achieving 100% local refining of artisanal and small-scale gold by December 2028, with exports of raw gold prohibited at that time.

The broader investment plan is expected to be assessed based on factors like the value retained in Ghana, export earnings per tonne, skilled jobs created, participation of local suppliers, technology transfer, and environmental performance. Similar targets are set for manganese and bauxite, with at least 50% local processing by the end of 2028, and full processing by the end of 2030.

Beyond gold, lithium refining and the production of battery-grade chemicals, components, and cells are also planned for local implementation. Additionally, the government intends to establish a 24-hour critical minerals processing enclave in the Western Region, aiming to strengthen Ghana's position in the minerals value chain.