The Ghana Gold Board (Goldbod) from February 1 would start to refine one thousand kilogramme of gold every week here in the county.
The company has signed a memorandum of understanding with Gold Coast Refinery Limited to refine the gold locally.
The partnership, which was struck in Accra on January 20, is aimed at strengthening the country’s gold value chain, promote local industry, and advance the country’s industrialization agenda.
The agreement, according to the Chief Executive Officer of the Goldbod, Sammy Gyamfi is expected to increase local refining capacity, create jobs, and generate additional tax and dividend income for the state.
‘’Every gold refined by Gold Coast Refinery and exported will bear a hallmark of Gold Coast Refinery, Goldbod, Ghana Standards Authority, and the BoG emblems.
This agreement will ensure that up to one metric ton of gold exported by Goldbod, will be refined here in Ghana at Gold Coast Refinery every single week.
He added the move is to ensure that the millions of dollars paid as refining charges to refineries in Dubai, India, Switzerland, Hong Kong, and other foreign countries, will now stay in “our banking sector and economy’’.
‘’We cannot continue to refine our gold in refineries in Europe, while refineries in Ghana continue to suffer’’, Sammy Gyamfi said.
Under the agreement, Gold Coast Refinery will refine gold sourced from small-scale mining operations, with a minimum purity level of 99.99%.
The Chief Executive Officer of Gold Coast Refinery, Said Deraz, promised to deliver strong and measurable results.
By Evelyn Tengmaa
