The Minister for Finance, Dr Cassiel Ato Forson, has praised the Gold Coast Refinery as a world-class facility that embodies Ghana’s long-standing national aspiration to move beyond the export of raw minerals.
During an inspection tour of the refinery in Accra on Wednesday, the Minister commended the management and staff for successfully establishing and operating a world-class gold processing facility. He remarked that the project reflects a long-standing national aspiration to move Ghana beyond the export of raw minerals.
“A while ago, I inspected the Gold Coast Refinery, a facility that represents a major step in Ghana’s industrial and economic transformation. I commend the management and staff for establishing and operating such an impressive refinery,” he stated.
According to him, with a refining capacity of up to two tonnes of gold per week, the country was gradually shifting from the traditional model of exporting raw gold to exporting fully refined Ghanaian gold.
Dr Forson emphasised that this transition will deepen value addition within the mining sector, create skilled employment opportunities, and significantly strengthen the nation’s foreign exchange earnings.
He noted that the project builds on a vision first articulated by President Mahama in 2016, that Ghana must refine its own gold locally to retain greater value from its natural wealth.
The Minister further revealed that the government was collaborating with GoldBod to establish a modern fire assay laboratory before the end of the year, which will provide scientific verification of gold quality and valuation within the country.
“For the first time since independence, Ghana will have the domestic scientific capacity to determine the true value and purity of its gold,” he noted. This, he said, will improve royalty assessments, enhance transparency, and boost national revenue.”
Dr Forson stressed that the initiative forms part of a broader economic reset strategy focused on institutional strengthening and maximising the benefits derived from Ghana’s natural wealth.
“This is how we reset the economy, by adding value to our resources, strengthening our institutions, and ensuring that Ghana’s natural wealth benefits the Ghanaian people first,” he said.
Margaret Adjeley Sowah, ISD
