GSA Issues First Gold Production Certificate to Gold Coast Refinery Limited

Dr Said Deraz chairman of Gold Coast Refinery receiving the cerficate from Dr. Akwesi Achampong,Board Chairman of Ghana Standards Authority

A new era in gold production in the country was yesterday birthed with the certification of Gold Coast Refinery Limited (GCRL) to hallmark gold.

The Ghana Standards Authority (GSA) issued the historic certification at ceremony in Accra, where the company unveiled the country's first hallmarked gold.

Hallmark is a purity certification of the purity of gold in gold articles in accordance with standard specifications.

The certification given GCRL means it is now qualified to hallmark refined gold of over 995 purity, market and sell its finished products, including value added bars and medallions on the local and international bullion markets.

In an address on behalf of President Nana Addo Dankwa Akufo-Addo, the Minister of Trade and Industry, Alan Kyeremanten noted that the country, since time immemorial, had been exporting raw gold without adding value to it.

He averred that value addition to Gold produced in the country would boost the economy and create job opportunities as value addition enterprises such as goldsmiths, jewellery manufacturers and other legal tender would be linked.

The Minister for Lands and Natural Resources, Kwaku Asomah Cheremeh underscored the importance of the gold sector to the growth of the economy and re-echoed the government's commitment to stop illegal small scale mining and its associated negative impact on the environment .

He said the government would rather reform the small scale mining sector and make it more beneficial to the country.

Prof. Alex Dodoo, the Director General, GSA averred that authority has developed over 10 national and international standards for gold, precious minerals and jewellery and that it would " work with stakeholders to ensure that gold purified in Ghana is traceable and of known provenance".

The Chairman of Gold Cost Refinery Limited, Dr. Said Deraz said the sound democratic foundation and the investor friendly legislative and regulatory regimes in Ghana attracted him to invest here.

He said the company's board had resolved to extend the company's investment in Ghana, to the health, agriculture and other social infrastructure sectors due to the investment friendly regime created by the government.

He touted the company's ability to conduct internationally acceptable gold refining, assaying and hallmarking and hinted of plans to set up jewellery manufacturing plant a training centre and exhibition galleries.

On his part, the Managing Director of Gold Coast Refinery Limited, Mr. Sampson Nortey said the company would not comprise on standards.

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