GoldBod signs refinery agreement with Royal Ghana Gold Limited

Ghana Gold Board has signed a gold refinery agreement with Royal Ghana Gold Limited as part of efforts to deepen value addition in the country's mining sector. Under the agreement, GoldBod will supply up to one metric tonne of gold weekly to Royal Ghana Gold Limited for refining. The partnership marks the second major refinery deal by the board, following an earlier arrangement with Gold Coast Refinery.

GoldBod CEO Sammy Gyamfi said at the signing ceremony on Monday, May 25, 2026, that the long-term goal is to ensure that by 2030, all minerals mined in Ghana are refined locally before export. He said the directive from government is clear, stressing the need to shift away from raw mineral exports. He stated, "Our marching orders from the President have been very clear from day one: we must change the narrative of Ghana's continuous export of raw minerals." Mr. Gyamfi added that when the current administration took office in January 2025, Ghana did not have sufficient capacity for local gold refining. He said, "When we took office on January 7, 2025, Ghana did not have the capacity to refine gold locally. All gold produced from both the large-scale and small-scale sectors was exported in its raw state."

Governor of the Bank of Ghana, Johnson Asiama, said the initiative would significantly improve Ghana's balance of payments if natural resources are processed locally. Dr. Asiama also welcomed the partnership, reaffirming the central bank's support and noting that it holds a minority stake in Royal Ghana Gold Refinery Limited to strengthen oversight and support Ghana's gold value addition agenda. Chief Executive Officer of Royal Ghana Gold Refinery Limited, Eric Frimpong, said the refinery is positioned to support government's 24-hour economy programme by creating