The Minister of Finance, Dr. Cassiel Ato Forson, has announced that Ghana is on course to establish its first modern fire assay laboratory, a move he describes as a historic breakthrough in the country’s gold value-chain and revenue assurance framework.

Dr. Forson made the declaration during an inspection visit to the Gold Coast Refinery, where he was accompanied by the Chief Executive Officer of GoldBod, Sammy Gyamfi, and the Deputy Chief Executive Officer of GoldBod, Richard Nunekpeku. The delegation was received and conducted around the facility by Dr. Saeed Deraz, Chairman and Chief Executive Officer of Gold Coast Refinery Ltd.

Highlighting the strategic importance of the initiative, the Finance Minister stated, “For the first time since independence, Ghana will have the domestic scientific capacity to determine the true value and purity of its gold.”

He explained that the planned laboratory will fundamentally change how gold is valued, tested, and certified within the country.

According to Dr. Forson, the establishment of the fire assay laboratory will improve royalty assessments, enhance transparency in mineral transactions, and significantly boost national revenue by reducing reliance on foreign testing centres.

He noted that accurate gold assaying is critical to ensuring that the state receives its rightful earnings from mineral exports.

The Minister emphasised that beyond revenue gains, the project will strengthen institutional credibility, support investor confidence, and position Ghana as a more competitive and self-reliant player in the global gold trade.

He added that the initiative forms part of a broader economic transformation agenda anchored on value addition, institutional strengthening, and ensuring that the country’s natural resources deliver maximum benefit to the Ghanaian people.

The planned fire assay laboratory is expected to serve as a cornerstone of Ghana’s mineral governance architecture, reinforcing accountability, precision, and long-term sustainability in the gold sector.