Ghana Launches First Commercial Gold Refinery in Historic Move

Ghana inaugurated its first commercial gold refinery in Accra, aimed at boosting value addition and curbing smuggling. The Royal Ghana Gold Refinery, capable of processing 400 kg per day, is a joint venture with a 20% stake by the central bank. This move is expected to enhance national earnings and create numerous jobs.

Ghana marked a significant milestone by inaugurating its first commercial gold refinery in Accra, the capital, on Thursday. This initiative is expected to add value to the country's gold exports and mitigate smuggling activities.

The Royal Ghana Gold Refinery, a collaboration between Rosy Royal Minerals of India and Ghana's central bank with a 20% stake, has the capacity to process 400 kilogrammes of gold daily. Initially sourcing gold dore from small-scale and artisanal miners, the refinery will eventually acquire licences to handle output from large-scale miners.

During the opening ceremony, Vice President Mahamudu Bawumia heralded the event as a 'new era' for Ghana. He highlighted that refining gold domestically would ensure the country reaps better economic benefits and creates jobs for the youth. This venture marks Ghana's latest effort to retain economic value within its borders and curb illegal gold smuggling activities.

(With inputs from agencies.)