Launch of Refining Operations
On 13 September 2025, the Ghana Gold Board announced that the country will officially commence local gold refining and fire assay operations in October 2025. This marks a strategic shift from exporting semi-processed doré bars toward fully processed bullion produced inside Ghana. The initiative, supported by the Bank of Ghana and local refineries such as the Gold Coast Refinery, aims to capture more value domestically, strengthen foreign exchange reserves, and elevate Ghana’s status as a leading player in the global gold market.
Infrastructure and Systems
The program will be anchored in a new ISO-certified assay laboratory located at the Cargo Village of Kotoka International Airport, enabling accurate and internationally recognized testing of gold purity. A traceability system will also be introduced to certify the origin of refined gold, which is crucial for access to premium international markets where responsible sourcing is a key requirement. By ensuring compliance with global standards, Ghana seeks to compete not only as Africa’s largest gold producer but also as a credible supplier of responsibly refined bullion.
Opportunities and Challenges
Officials believe that refining will help retain billions of dollars in value within Ghana, create skilled jobs, and reduce reliance on foreign refineries. However, challenges remain, including the need to tackle the environmental and reputational risks of illegal mining, which accounts for a significant portion of national gold output. Without stronger enforcement, part of the refined gold may still come from unregulated sources, weakening credibility. Success will depend on combining infrastructure investments with governance reforms, positioning Ghana as a sustainable hub for African gold refining.