Gov’t launches US$1bn gold sector overhaul with national refinery to end raw exports

By Ernest Bako WUBONTO

The domestic mining sector is set for a major reset, with government announcing a US$1 billion gold industry revolution anchored on value addition, environmental responsibility, and job creation.

The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, unveiled the reforms at the maiden Mining and Minerals Convention (MMC 2025) in Accra, declaring an end to the era of raw gold exports and pledging to reposition Ghana as a hub for refined bullion

“Ghana must not remain a primary exporter of raw materials. As part of the reset agenda, we are determined to begin local refining of gold purchased and exported by the GoldBod,” Mr.Gyamfi stated.

At the centre of the reforms is a US$1bn partnership with Goldstream Global DMCC to establish over 300 environmentally responsible mines nationwide, projected to generate more than 1,000 jobs and significantly boost output. The deal, signed in August and expected to transform into a full commercial agreement in November, falls under the GoldBod’s Mining Support Programme (MSP).

Value addition and refinery plan

To capture billions in lost revenue, the GoldBod has secured land at Kotoka International Airport for the construction of a state-owned international-standard gold refinery and an ISO-certified assay laboratory. The facilities will anchor Ghana’s transition from exporting doré to refined, high-value gold products.

Traceability, reclamation and CSR

Mr. Gyamfi further disclosed plans to roll out a nationwide digital gold traceability system by year-end, ensuring every gram of gold is linked to licensed, compliant mines.

In a bid to restore degraded environments, GoldBod will also fund the reclamation of 1,000 hectares of devastated forest reserves, starting November. Alongside, a new CSR framework for mining communities—covering potable water, schools, health facilities and scholarships—will be launched in October.

MMC 2025

The inaugural Mining and Minerals Convention, organised by Meetings.Co in partnership with the Ministry of Lands and Natural Resources, Minerals Commission and GoldBod, brought together policymakers, industry players, financiers and sustainability experts. Sponsored by GCB Bank, the event ran under the theme “Shaping the future of Ghana’s gold industry”.

Meetings.Co Chief Executive Officer Baba Sadia said the convention seeks to unlock greater value throug spanning policy, regulation, ESG, local content, financing and digital innovation.

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