Ghana Begins Local Refining of ASM Gold in Major Value Addition Milestone

Ghana has taken a significant step toward strengthening its gold value chain as the Ghana Gold Board, in collaboration with Gold Coast Refinery, officially commenced the local refining of gold sourced from the artisanal and small-scale mining (ASM) sector.

The initiative marks a major milestone in Ghana’s efforts to add value to its mineral resources while formalising the ASM industry. By refining gold locally, the country aims to move away from the long-standing practice of exporting raw gold and instead retain greater economic benefits within the domestic economy.

The commencement of the refining process was highlighted by a tour of the Gold Coast Refinery led by the Minister for Finance, Dr. Cassiel Ato Forson, alongside the Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, Esq. The visit underscored government’s commitment to strengthening oversight, transparency, and value addition in the gold sector.

With the new arrangement, gold produced by artisanal and small-scale miners will now be refined in Ghana to international standards, ensuring full traceability from source to export. This is expected to curb illegal trading, enhance regulatory compliance, and improve Ghana’s standing in the global gold market.

Beyond boosting export value, the initiative is also projected to create jobs, support local industries, and provide sustainable livelihoods for thousands of people within the ASM value chain. Stakeholders believe the move will play a critical role in transforming small-scale mining into a more structured, responsible, and economically rewarding sector for the country.