Finance Minister Dr Cassiel Ato Forson has praised the management and staff of the Gold Coast Refinery for establishing a world-class facility that strengthens Ghana’s capacity to refine gold locally and add value to its mineral resources.

The Minister visited the refinery alongside GoldBod Chief Executive Officer Sammy Gyamfi and Deputy CEO Richard Nunekpeku, where they were given a tour by Dr Saeed Deraz, Chairman and CEO of the refinery.

Following the visit, Dr Forson commended the project as a milestone in Ghana’s industrial and economic transformation.

“This facility represents a major step in moving Ghana beyond the export of raw minerals,” he said.

Dr Forson explained that the refinery, with a capacity to process up to two tonnes of gold per week, reflects a vision first articulated by former President John Dramani Mahama in 2016: to retain greater value from Ghana’s natural resources through local refinement.

He noted that the initiative will create skilled jobs, enhance value addition in the mining sector, and significantly boost the nation’s foreign exchange earnings.

Highlighting the country’s growing domestic gold capacity, GoldBod CEO Sammy Gyamfi said, “GoldBod now has the capacity to purchase an average of 2.5 tonnes of gold per week. Our policy is to ensure that, as quickly as possible, raw gold will no longer be exported from the country.”

Dr Forson further revealed plans to establish a modern fire assay laboratory before the end of the year, aimed at scientifically verifying gold quality and valuation domestically.

“For the first time since independence, Ghana will be able to determine the true value and purity of its gold, improving royalty assessments, transparency, and national revenue,” he added.

Dr Forson stressed that the initiative forms part of a broader economic reset, focusing on institutional strengthening and ensuring that Ghana’s natural wealth benefits the Ghanaian people first.

“This is how we reset the economy: by adding value to our resources, strengthening our institutions, and putting Ghanaians first,” he said.