The Minster of Finance, Dr Cassiel Ato Forson, has disclosed that plans are underway to scale up the operations of Gold Coast Refinery from one metric tonnes to two metric tonnes of gold every per week.
He noted that the GoldBod itself has the capacity to purchase an average of 2.5 tonnes of gold weekly, adding that government policy is geared towards ending the export of raw gold and ensuring that all gold is processed locally to maximise value.
While describing the GoldBod as a revolutionary and visionary institution, he stated that the institution is reshaping the country’s gold industry.
Addressing the press after touring the Gold Coast Refinery in Accra on Wednesday, February 4, 2026, the finance minister said, Gold Coast Refinery has employed 162 workers.
The facility, he added, is running 24 hours a day, which is in line with government’s 24-hour economy policy.
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He said; “Clearly, this company, Ghana Gold Coast Refinery, has the ability to refine up to two tonnes of gold per day. Gold Board has agreed to provide them one tonne of gold per week for refinery. This will be scaled up to two tonnes per week in no time. Today, Gold Board has the capacity to buy 2.5 tonnes on average per week of gold. It is our policy to ensure that in the shortest possible time, we will not be exporting raw gold outside this country.”
“This refinery today has the capacity to do two tonnes and now, with an understanding that with one tonne per week, it has employed approximately 162 workers and they are adding value to our gold. They are going to operate 24 hours in line with our 24-hour economy policy at the airport and creating a gold industry. It’s adding value to Ghana’s gold,” Dr Forson added.
The initiative marks a decisive shift away from Ghana’s long-standing dependence on exporting raw gold, a practice that has cost the nation significant revenue over the years.
Under the agreement, gold sourced from both artisanal and large-scale mining operations will be refined locally before being traded and exported.
This move is expected to strengthen Ghana’s role in the global gold value chain.
SA/MA
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Source:
www.ghanaweb.com
