By Magdalene Andoh
Royal Gold Refinery Limited has pledged to align its operations with Government’s 24-Hour Economy vision to boost gold processing and job creation.
Chief Executive Officer of Royal Gold Refinery Limited Eric Frimpong Santeng said the 24-hour model would transform opportunities for young Ghanaianswho seek full-time employment.
His pledge follows the visit of the Chief Executive Officer of the Ghana Gold Board; Sammy Gyamfi toured the private Gold Refinery to explore a possible refinery agreement with the Ghana Gold Board.
‘’ It’s our vision to support the president’s vision and 24-hour economy is what we want to do here, to make sure our youth gain full-time employment and as I mentioned to you: We got the privileged of engaging technical people who are very experienced to train our local team here and once they learn and then they take over ,’’ he explained.
According to Mr. Santeng the facility, when operating at full capacity, will employ about twenty-seven (27) people per shift.
On his part, Mr. Gyamfi noted that the Ghana Gold Board has employed the services of a technical expert to do a technical assessment of the facility and recommend to GoldBod on the viability of a refinery agreement.
‘’ Our expert will be working with them on daily basis, follow up and where he can help, he will help because he has a clear understanding of practically the system we will be working with,” he said.
The CEO was optimistic that the two will in no time sign an agreement for the full operationalization of the Royal Gold Refinery Limited.
‘’ We are very optimistic we can resolve these issues and have an agreement in a matter of weeks so please work with us. We want to see life come to this place…Next time I come here I will be coming with the minister of Finance and may be the minister for Lands and Natural Resources, maybe the Governor. He is shareholder and that’s our plan,’’ he stated
The Royal Ghana Gold Refinery which was commissioned on August 8, 2024 has the capacity of refining four hundred kilograms (400kg) of gold daily.
The Accra-based refinery, which can produce refined gold at twenty-four (24) carats with a quality rate of ninety-nine point nine nine percent, marks a significant milestone in the government’s journey to move Ghana from mineral production to value addition.
Ghana took a major step towards safeguarding the purity and true value of its gold exports following a new partnership between the Ghana Gold Board (GoldBod) and Gold Coast Refinery, with technical support from South Africa’s Rand Refinery.
The agreement, signed yesterday, Tuesday, 20 January 2026, in Accra, will see Ghana’s gold refined locally for both domestic use and export, addressing long-standing concerns about purity losses and the undervaluation of the country’s gold on the international market.
Under the arrangement, GoldBod will begin supplying at least one metric tonne of gold each week to Gold Coast Refinery from 1 February 2026, subject to capacity, with output expected to increase gradually. The refinery, Africa’s second largest, has an annual processing capacity of up to 180 tonnes.
The refined gold will meet a minimum purity standard of 99.5 per cent, with the facility capable of producing gold of even higher quality, up to 99.999 per cent, commonly referred to as “five nines”. All gold bars exported under the partnership will carry hallmarks from Gold Coast Refinery, GoldBod, the Ghana Standards Authority, and the Bank of Ghana, providing internationally recognized assurance of quality and authenticity.
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Source:
www.gbcghanaonline.com