The Chief Executive Officer of the Chamber of Mines, Ken Ashigbey, has reaffirmed the chamber’s commitment to supporting the Ghana Gold Board’s (GoldBod) local gold refinery, emphasising the active involvement of large-scale mining companies in the initiative.

Speaking at the signing ceremony for a landmark gold refining agreement between GoldBod, Gold Coast Refinery, and Rand Refinery on Tuesday, January 20, Ashigbey said the chamber strongly backs the domestic refining of gold and is fully engaged in ensuring the country meets the stringent standards required for international markets.

“As a chamber, we are committed to refining gold in Ghana, and this is not mere talk. Rand Refinery, Gold Coast Refinery, and Royal Refinery can all attest to our engagement. The journey we began today is crucial to achieving LBMA accreditation here in Ghana,” he said.

Ashigbey added that the collaboration would ensure that gold sourced from both artisanal and large-scale mining operations is refined locally, supporting ethical sourcing and enhancing product purity.

“If gold previously sent to refineries without LBMA accreditation is now processed here, we can secure higher standards and strengthen Ghana’s place in the global gold market,” he noted.

The agreement marks a significant step in reducing Ghana’s long-standing dependence on exporting raw gold, a practice that has historically resulted in substantial revenue losses.

The Gold Coast Refinery, which supports the government’s macroeconomic goals, will provide services including assaying, smelting, refining, vaulting, transportation, and export of high-purity gold (up to 999.9).

The partnership aims to expand local processing to 30% of Ghana’s gold output, positioning the country more strongly in the global value chain.