The Association of Small-Scale Miners says Ghana’s push to refine gold locally should not be viewed only through the lens of the additional costs it could impose on industry players.

Communication Director of the Association, Abdul Razak Alhassan, says the country must also consider the jobs and wider economic benefits that local refining could create.

His comments come after the Ghana Gold Board (GoldBod) directed all Self-Financing Aggregators (SFAs) to refine gold doré in Ghana before exporting it.

The directive takes effect on September 1, 2026. It requires gold purchased under arrangements with approved offtakers to be refined locally before export.

The refining cost will be borne by the SFA or its approved offtaker, depending on their commercial arrangement.  

Speaking on Joy News’ PM Express on Wednesday, Mr Alhassan acknowledged concerns over the cost implications.

He, however, argued that operators in the sector already face significant expenses before they even obtain the gold-bearing ore.

“Gold itself is a commodity whereby there are so many challenges in it. So sometimes you need to work on yourself; you need to weigh yourself before you enter into that industry.”

He said the cost of operating in the small-scale mining sector must be considered alongside the cost of refining.

“So the operational cost and everything, we as industry players, even to get the ore itself, you incur so many challenges or so many costs.”

For him, requiring miners and aggregators to absorb the refining cost should therefore not be considered unreasonable.

“If they are also taking the other side of it, I don’t think there should be any big deal. So I think them bearing the cost shouldn’t be anything, because it will also help the country and then reduce youth unemployment.”

He believes the employment opportunities that could emerge from a stronger domestic refining industry should form part of the policy debate.

“Because when this refinery kicks off, as my other colleague said, they have some number of people, youth, that they will employ. So we should look at the balance.”

GoldBod’s latest directive is part of a broader push to retain more value from Ghana’s gold before it leaves the country.

In January, GoldBod signed an agreement with Gold Coast Refinery to refine one metric tonne of gold weekly from the small-scale mining sector. The arrangement was designed to deepen local value addition and create jobs.  

GoldBod has now moved to make local refining mandatory for gold doré exported by SFAs.

Mr Alhassan maintains that while refining costs could be higher, the wider national benefits should also be considered.

“While they are looking at the cost, yes, the operational cost may be higher, but we should also look at the way we are handling these two issues. And I think they have to bear the cost.”