GoldBod says 76% of gold exported since August refined locally

The Ghana Gold Board (GoldBod) has announced that 76 per cent of the artisanal and small-scale mining gold it aggregated and exported since August 2026 has been refined locally, marking progress in the country’s efforts to increase domestic value addition in the gold sector.

GoldBod Chief Executive Officer Sammy Gyamfi disclosed the figures at the African Minerals Policy Forum – Mining in Motion 2026 in Accra on October 20. He said 18.7 tonnes of the 25 tonnes of gold exported since August 1 had undergone local refining.

Mr Gyamfi revealed that the proportion had increased significantly in October, with 5.4 tonnes out of the 5.7 tonnes of artisanal and small-scale gold purchased and exported during the month refined in Ghana. This represents approximately 95 per cent of the total.

He attributed the progress to partnerships with two privately owned Ghanaian refineries, Gold Coast Refinery and Royal Ghana Gold Refinery, which have entered into refining service agreements with GoldBod to expand the country’s domestic processing capacity.

According to Mr Gyamfi, the two refineries had collectively processed 25 tonnes of artisanal and small-scale gold purchased and exported by GoldBod in 2026, out of the 85.4 tonnes exported as of October 20. He also disclosed that 30 per cent of the large-scale mining gold purchased by the government under the Ghana Accelerated National Reserve Accumulation Programme was being refined locally.

The GoldBod chief executive stressed that Ghana must move beyond exporting raw minerals and retain more economic benefits through local refining, technology, manufacturing and greater participation by Ghanaian businesses.

He also commended the two refineries for developing strategies to obtain accreditation from the London Bullion Market Association (LBMA) within the next three to five years, with regulatory guidance from GoldBod. Such accreditation could help strengthen confidence in Ghana’s refining industry and its access to international markets.

Mr Gyamfi further highlighted GoldBod’s Mine Support Programme, which involves geological studies with the Ghana Geological Survey Authority to identify viable mineral deposits and reduce investment risks for local participants.

He called for stronger cooperation among African countries to tackle illicit mineral flows, improve access to technology and financing, and ensure that mineral wealth generates jobs, industrial growth and lasting benefits for mining communities.

The figures reflect Ghana’s ongoing push to strengthen its position in the gold value chain by expanding local processing rather than relying predominantly on exporti

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