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Finance Minister Dr. Cassiel Ato Forson has announced plans by government to end the export of raw gold, signalling a major shift toward local value addition and in-country gold processing.
According to him, Ghana has already made significant progress, with the Gold Coast Refinery currently refining one metric tonne of gold every week, and possessing the capacity to process up to two tonnes weekly.
Dr. Forson made the disclosure after touring the refinery on Wednesday, February 4, revealing that the Gold Board has agreed to supply the facility with one metric tonne of gold each week, with plans to scale up supply in the near future.
He further explained that the Gold Board currently has the capacity to purchase about 2.5 tonnes of gold per week, and government intends to divert a greater portion of that supply into local refining instead of exporting it in raw form.
“Clearly, Gold Coast Refinery has the capacity to refine up to two tonnes of gold per week. Gold Board has agreed to provide them with one tonne weekly, and this will be scaled up to two tonnes in no time,” Dr. Forson said.
“It is our policy to ensure that, in the shortest possible time, Ghana will no longer export raw gold outside this country,” he added.
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