Ato Forson Calls for Local Gold Refining to Create Jobs and Boost Ghana’s Economy

According to a report by 3News published on October 31, 2026, Finance Minister Dr. Cassiel Ato Forson has called on Ghana to refine more of its gold locally instead of exporting it abroad for processing, arguing that the move could create jobs, strengthen local industries and allow the country to retain greater value from its mineral resources.

Dr. Cassiel Ato Forson made the remarks during an engagement with faculty members and students of the University of Ghana, where he questioned why a country with a long history of gold production continued to send much of its gold overseas for refining.

He noted that gold mined in Ghana was often transported to South Africa for refining before being sent to European markets. According to him, the country must move away from this practice and develop a stronger domestic gold refining industry.

The Finance Minister explained that local refining would create employment opportunities directly and support other businesses along the gold value chain. He pointed to the Ghana Gold Board (GoldBod), which he said purchases approximately three tonnes of gold every month, as an opportunity to expand local processing.

Dr. Cassiel Ato Forson maintained that even if refining initially created only a small number of direct jobs, the wider economic benefits could be significant through the development of related commercial activities.

He also proposed the development of a gold souk, or gold trading market, to support the growth of the industry and attract more business into the country.

Beyond Ghana’s domestic gold supply, the Finance Minister believes the country could position itself as a regional refining centre by attracting gold from neighbouring West African countries, including Burkina Faso, Niger, Mali and Côte d’Ivoire.

He argued that such an industry would enable Ghana to add more value to its mineral resources rather than exporting them in less processed forms.

The proposal forms part of broader efforts to strengthen local value addition in the mining sector, create employment and increase the economic benefits Ghana derives from its natural resources.

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