The Vice President and the flagbearer of the New Patriotic Party (NPP), Dr Mahamudu Bawumia, has inaugurated a state-of-the-art gold refinery aimed at enhancing value addition in Ghana's mining sector.

The new facility, which was officially opened on Thursday, August 8, 2024, is expected to play a pivotal role in increasing the value of Ghana’s gold exports by refining the precious metal locally rather than exporting it in its raw form.

During the commissioning ceremony, Dr Bawumia highlighted the strategic importance of the refinery in boosting Ghana’s economy.

He explained that the facility will enable the country to capture more value from its gold resources, which have traditionally been exported in unprocessed forms.

This move aligns with the government's broader agenda to maximise the benefits of Ghana's natural resources and reduce reliance on raw commodity exports.

The gold refinery, equipped with cutting-edge technology, will facilitate the processing of gold into high-purity bars, ready for international markets.

Dr Bawumia emphasised that this will not only enhance Ghana's position in the global gold market but also create numerous job opportunities within the country.

He expressed optimism that the refinery will attract further investment into the local mining sector.

In his address, Dr Bawumia also acknowledged the support of various stakeholders who contributed to the completion of the project.

He praised the collaborative efforts between the government, private sector partners, and industry experts in making the refinery a reality.

The project is expected to contribute significantly to Ghana's economic growth and strengthen the mining sector's infrastructure.

"It gives me immense joy to address you today on the commissioning of the Royal Ghana Gold Refinery. This historic achievement in the natural resources sector, specifically in gold, marks a significant milestone in Ghana’s journey towards economic transformation and industrialisation. Today, we celebrate not just a new facility but a testimony to our government’s commitment to adding value to our natural resources, creating jobs, and ensuring sustainable economic growth."

"The partnership between the Government of Ghana, through the Bank of Ghana, and Rosy Royal Minerals Limited symbolizes a vision for a prosperous future in the precious minerals industry. The state-of-the-art refinery being commissioned today is equipped with cutting-edge technology that meets international standards, significantly boosting our capacity to locally process gold and increase value addition prospects," Dr Bawumia said.