All things being equal, under the authority of Ghana Gold Board, Ghana’s gold output will be refined locally before export starting October 2025.
This will be done through a new partnership arrangement between the Goldbod, Bank of Ghana and local refineries.
The decision is part of a broader effort to boost value addition in the gold sector and improve Ghana’s economic resilience under the new Gold Board mandate and objectives.
“It is a national shame that, as a long-standing continental leader in production, Ghana continues to export doré, that is, raw gold instead of bullion. The Ghana Gold Board, which I lead, is determined to change this narrative as a matter of urgency”, the Chief Executive Officer of the Gold Board, Sammy Gyamfi, made this announcement during the first Mining and Minerals Convention held in Accra yesterday.
“As part of the reset agenda of President Mahama, the GoldBod, in conjunction with the BoG, is partnering with local refineries such as the Gold Coast Refinery to begin the local refining of gold purchased and exported by the GoldBod and this will begin next month, October 2025.”
Goldbod’s data indicates that small-scale gold exports between January and August 2025 amounted to 66.7 tonnes with an estimated value of $6.3 billion.
“Since January up to the end of August 2025, small-scale gold exports undertaken by or through the GoldBod, working closely with the BoG, have hit a record high of 66.7 tonnes with an export value of approximately $6.3 billion”, Mr Gyamfi noted.
“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 exports outturn for the whole of the year 2024. That is from January to December, which stood at 63 tonnes with a value of about $4.6 billion.”
