The Minister for Finance, Dr Cassiel Ato Forson, says Ghana is preparing to establish its first modern fire assay laboratory as part of efforts to strengthen value addition and revenue mobilisation in the extractive sector.
During an inspection tour of the Gold Coast Refinery in Accra on 4 February 2026, Dr Forson described the facility as a major milestone in the country’s industrialisation drive and its broader economic transformation agenda.
He said the refinery, which has the capacity to process up to two tonnes of gold per hour, is expected to begin operations at a lower initial output before scaling up.
According to the Minister, the facility currently employs about 162 workers and is adding value to Ghana’s gold locally.
“This refinery has the capacity to do two tonnes an hour, though it will begin with about one tonne per week,” he said. “It has employed approximately 162 workers, and they are adding value to our gold. They will operate 24 hours in line with our 24-hour economy policy.” he said
Dr Forson added that the refinery would, for the first time, produce gold bars officially stamped in the name of the Ghana Gold Board and the Bank of Ghana.
The Finance Minister revealed that, “Our next policy line is that by the end of the year, Ghana will have its first-ever fire assay laboratory to enable us determine the true value of our gold and royalties,”
Fire assay laboratories are considered the global standard for accurately determining the purity and value of precious metals, particularly gold.
Ghana, Africa’s leading gold producer, has historically relied on external or private facilities for such assessments, a situation that has raised concerns about revenue leakages and under-declaration of royalties.
The proposed laboratory is expected to strengthen transparency, improve revenue collection and support the government’s broader industrialisation and value-addition agenda.
