– By: Iddrissu Jara

Ghana has taken a decisive step toward value addition in its gold sector with the official signing of a refining agreement between the Ghana Gold Board (GoldBod) and Gold Coast Refinery Limited.

The agreement, signed on Tuesday, January 20, 2026, positions Gold Coast Refinery as a key partner in Ghana’s push to refine gold locally before export, a move expected to boost export earnings, create jobs and deepen industrialisation.

Speaking at the signing ceremony in Accra, Chairman and Chief Executive Officer of Gold Coast Refinery Limited, Dr. Said Deraz, said the partnership aligns squarely with President John Dramani Mahama’s vision of economic independence and greater control over Ghana’s natural resources.
“The world is changing and Africa is rising. Ghana is leading this change by taking real steps toward economic independence and greater control over its natural resources,”

Dr. Deraz quoted the President as saying.
Under the agreement, Gold Coast Refinery will receive gold ore from GoldBod and refine it into pure bullion prior to export, marking a shift from Ghana’s long-standing practice of exporting raw gold.

Dr. Deraz noted that the refinery, commissioned in 2016, has the capacity to process up to 180 metric tonnes of gold annually and operates in line with international standards. The facility holds Responsible Jewellery Council (RJC) certification, ISO certifications including ISO/IEC 17025 and approval from the Ghana Standards Authority.

He further disclosed that the refinery is actively pursuing London Bullion Market Association (LBMA) accreditation, a move that would place Ghana among a select group of globally recognised gold-refining nations.

The agreement, according to Dr. Deraz, will not only add value to Ghana’s gold but also support the government’s 24-hour economy agenda and reduce the country’s reliance on aid.