The Ghana Chamber of Mines has intensified its efforts to strengthen Ghana’s gold value chain by engaging two key players in the local refining ecosystem, Gold Coast Refinery and Royal Ghana Gold Ltd. The visits form part of the Chamber’s ongoing strategy to deepen collaboration, enhance local beneficiation, and ensure that a greater proportion of Ghana’s gold is processed domestically.
Led by the Chief Executive Officer, Ing. Dr. Kenneth Ashigbey, the Chamber’s delegation toured both facilities to gain firsthand insight into their operations, capacity, and readiness to contribute to the national agenda of value addition within the mining sector.
During the visit to Gold Coast Refinery, located in Accra, the Chamber interacted with Dr. Said Deraz, Chairman and CEO. Dr. Deraz highlighted the refinery’s operational milestones since its commissioning in 2016 and its resilience through temporary COVID-19 disruptions. The refinery is currently in advanced discussions with the Bank of Ghana (BoG) and the Ghana Gold Board (GoldBoD) to refine gold on their behalf.
Mr. Emmanuel Mensah, Advisor to the Chairman, described the facility as the second-largest gold refinery in West Africa, with two 90-ton vaults and dual refining lines, chemical and electrolysis, each capable of refining 600 kilograms per day. The refinery, certified by the Ghana Standards Authority and ISO, plans to achieve London Bullion Market Association (LBMA) accreditation to elevate Ghana’s standing in the international gold market.
Dr. Ashigbey commended the refinery’s commitment to collaboration and affirmed the Chamber’s readiness to support partnerships that drive national beneficiation.
Engagement with Royal Ghana Gold Ltd
At Royal Ghana Gold Ltd, the Chamber’s delegation was received by Mr. Eric Frimpong Santeng, who described the meeting as pivotal in Ghana’s pursuit of international refining certification.
The refinery, established to help Ghana secure LBMA accreditation, operates in partnership with the Bank of Ghana and currently has the capacity to refine 400 kilograms of gold daily, expandable to 800 kilograms under continuous operation.
Mr. Santeng emphasized the refinery’s commitment to achieving LBMA certification within three years, supported by Italian technical partners who provide mentorship and technology transfer. Despite challenges relating to gold supply and regulatory approvals, the company continues to maintain its staff of 28 employees and invest in local skills development.
In concluding remarks, Ing. Dr. Ashigbey lauded the refinery for their substantial investments and dedication to advancing Ghana’s refining industry. He noted that these engagements are essential to identifying capacity gaps, aligning industry stakeholders, and driving strategic initiatives to retain more mineral value within the country.
The Ghana Chamber of Mines reaffirmed its commitment to continued dialogue and partnership with refineries and government agencies to build a robust, credible, and internationally recognized gold refining sector for Ghana.
