In a major move toward industrializing Ghana’s natural resource sector, the Minister of Finance, Hon. Dr. Cassiel Ato Forson, has conducted an inspection of the Gold Coast Refinery, hailing the facility as a cornerstone of the nation’s economic transformation.
During the visit, the Minister emphasized that the refinery represents the actualization of a vision first proposed by former President John Dramani Mahama in 2016. The goal, according to Dr. Forson, is to ensure that Ghana moves beyond being a mere exporter of raw materials to becoming a hub for fully refined gold.
“This is the fulfillment of a national vision first expressed by President John Dramani Mahama in 2016: that Ghana must refine its own gold and retain greater value from its natural resources,” Dr. Forson stated via his official X account.
He commended the management and staff for their operational excellence, noting that the facility is pivotal to “resetting” the Ghanaian economy by keeping wealth within the borders.
The Gold Coast Refinery currently boasts an impressive refining capacity of up to 2 tonnes of gold per week. This shift from exporting raw ore to refined Ghanaian gold is expected to:
Deepen local value addition, create high-skilled industrial jobs, and strengthen the country’s foreign exchange (Forex) earnings.
In a landmark announcement, Dr. Forson revealed that the government is working in partnership with GoldBod to establish a modern fire assay laboratory before the end of the year.
This facility will mark a historic milestone for Ghana. “For the first time since independence, Ghana will have the domestic scientific capacity to determine the true value and purity of its gold,” the Finance Minister noted.
The laboratory is expected to revolutionize the sector by improving royalty assessments, enhancing transparency in gold trading, and significantly boosting national revenue.
The Minister concluded by reiterating that the focus remains on ensuring that Ghana’s natural wealth benefits its citizens first. By strengthening domestic institutions and adding value to resources, the government aims to build a more resilient and transparent economy.
