Dr Cassiel Ato Forson is the Minister of Finance
Dr Cassiel Ato Forson, the Minister of Finance, has described the Gold Coast Refinery as a major milestone in Ghana’s industrialisation and economic transformation agenda.
The remark followed an inspection tour of the facility, during which the minister commended the management and staff for what he described as the successful establishment and operation of a world-class gold processing refinery.
Dr Forson undertook the visit with Sammy Gyamfi, the Chief Executive Officer of GoldBod, and a Deputy Chief Executive Officer of GoldBod.
They were received and taken round the facility by Dr Saeed Deraz, the Chairman and Chief Executive Officer of Gold Coast Refinery Limited.
The minister said the project reflected a long-standing national aspiration to move Ghana beyond the export of raw minerals.
“A while ago, I inspected the Gold Coast Refinery, a facility that represents a major step in Ghana’s industrial and economic transformation,” the minister said.
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He commended the management and staff for establishing and operating such an impressive refinery.
Dr Forson explained that the refinery embodied a vision first articulated by President John Dramani Mahama in 2016 that Ghana must refine its own gold locally and retain greater value from its natural resources rather than exporting unprocessed bullion.
He said with a refining capacity of up to two tonnes of gold per week, the country was gradually shifting from exporting raw gold to exporting fully refined Ghanaian gold.
The minister emphasised that the transition would deepen value addition within the mining sector, create skilled employment opportunities, and significantly strengthen foreign exchange earnings.
He revealed that the Government was collaborating with GoldBod to establish a modern fire assay laboratory before the end of the year to enhance scientific verification of gold quality and valuation.
“For the first time since independence, Ghana will have the domestic scientific capacity to determine the true value and purity of its gold. This will improve royalty assessments, enhance transparency, and boost national revenue,” he said.
Dr Forson said the initiative formed part of a broader economic reset strategy focused on institutional strengthening and maximising the benefits derived from Ghana’s natural wealth.
The inspection formed part of the Government’s renewed focus on downstream mineral processing to support economic diversification, revenue mobilisation and sustainable industrial growth.
