The Ghana Gold Board (GoldBod) says between 80 and 90 per cent of the gold it purchases for export is now refined locally, a development expected to boost job creation, strengthen domestic industries and retain more economic value in Ghana.
Chief Executive Officer of GoldBod, Sammy Gyamfi, disclosed this when he appeared before Parliament’s Public Accounts Committee on Tuesday, October 13, 2026.
He said the increased use of local refineries marked a significant shift from previous practices, under which much of Ghana’s gold was exported without undergoing refining in the country.
According to Mr Gyamfi, refining gold locally enables Ghana to derive greater economic benefits from its mineral resources while creating employment opportunities, particularly for young people.
“I’m happy to report to this honourable committee that, as we speak, about 80 to 90 per cent of the gold we purchase and export is refined here locally,” he said.
Mr Gyamfi explained that the refineries operate around the clock and employ Ghanaians, helping to create jobs and retain refining fees within the domestic economy instead of paying them to foreign refineries.
He added that the benefits of local refining extended beyond gold, as silver recovered during the process was also being retained in Ghana.
According to him, this provides opportunities to generate foreign exchange and supply raw materials to the country’s fabrication industry, supporting the growth of local businesses and industrial activities.
Mr Gyamfi said the initiative formed part of GoldBod’s broader efforts to maximise the economic benefits of Ghana’s gold resources, promote local value addition and strengthen the country’s foreign exchange generation capacity.
He maintained that expanding domestic refining capacity would help create more employment opportunities, support industrial development and ensure that a greater share of the value generated from Ghana’s mineral resources remained within the country.
