Ghana Gold Board has announced plans to construct a state-owned gold refinery, with local refining set to begin in October 2025.
Chief Executive Officer of GoldBod, Sammy Gyamfi, says the initiative is part of efforts to maximize national benefits from Ghana’s natural resources and accelerate development.
Speaking at the 2025 Mining and Minerals Convention, held in Accra, Tuesday, September 9, 2025, Sammy Gyamfi revealed that land has been secured at Kargo village, near the Kotoka International Airport, to host the refinery.
“I am happy to inform you that on that same parcel of land secured by the Gold Board, we will be building a wholly state-owned and international standard gold refinery to further advance the local refining of gold produced in Ghana from the S-Model of Ndoko to Gold.”
Under government’s resetting agenda, the move aims to boost value addition, improve local beneficiation, and strengthen Ghana’s position in the global gold market.
Gyamfi also disclosed that small-scale gold exports have surpassed Ghana’s total 2024 output of 63 tonnes. As of September 2025, exports reached 66.7 tonnes, valued at $63 billion.
“Since January up to the end of August 2025, small-scale gold exports have been taking by or through the Gold Board, working closely with the Bank of Ghana, and hit a record high of 66.7 tons, with an export value of approximately 6.3 billion USD.”
He added saying, “What this means is that the volume and value of small-scale gold exports from January to August 2025 alone have exceeded the total small-scale gold export outage for the whole of the year 2024, and from January to December, which too had 63 tons, with a value of about 4.6 billion USD. It is also instructive to note that small-scale gold exports continue to surpass those from the last two minor sectors, which too had 65.1 tons, with an estimated value of approximately 5.6 billion USD for the period between January and August 2025.”
The Deputy Minister of Lands and Natural Resources, Alhaji Yusif Suleiman, says a comprehensive review of Ghana’s Mining Act is underway to support sector growth.
“In response to these challenges, we have taken several strategic steps, culminating in a comprehensive sustainable agenda and report policy reforms for the mining industry. The policies include the comprehensive review of the Minerals and Mining Act 2006 Act 703 and the Minerals and Mining Policy 2014, two extensive stakeholder engagements to align with global best practices.”
By Beatrice Sowah
