Finance Minister Dr Cassiel Ato Forson has announced plans to set up Ghana’s first modern fire assay laboratory, describing it as a historic step in strengthening the country’s gold value chain and revenue framework.

The announcement was made during an inspection visit to the Gold Coast Refinery, where Dr Forson was accompanied by GoldBod Chief Executive Officer Sammy Gyamfi and Deputy CEO Richard Nunekpeku.

The delegation was guided around the facility by Dr Saeed Deraz, Chairman and CEO of the refinery.

Speaking after the tour, the Finance Minister highlighted the laboratory’s transformative impact.

“For the first time since independence, Ghana will have the domestic scientific capacity to determine the true value and purity of its gold,” he said, noting that the facility will fundamentally improve how gold is assayed, tested, and certified within the country.

Dr Forson explained that the laboratory will strengthen royalty assessments, enhance transparency in mineral transactions, and significantly boost national revenue by reducing reliance on foreign testing centres.

Beyond revenue mobilisation, he said the project would enhance institutional credibility, increase investor confidence, and position Ghana as a more self-reliant and competitive player in the global gold market.

The Finance Minister added that the initiative forms part of a wider economic transformation agenda, aimed at promoting value addition, institutional strengthening, and ensuring Ghana’s natural resources deliver maximum benefits to the Ghanaian people.