Government to end export of raw gold to boost local refining – Ato Forson

Finance Minister Dr Cassiel Ato Forson has announced plans by the government to halt the export of raw gold as part of broader efforts to promote local value addition and strengthen Ghana’s gold processing industry.

He revealed that substantial progress has already been made, with the Gold Coast Refinery currently refining about one metric tonne of gold locally each week. According to him, the facility has the capacity to process up to two metric tonnes weekly.

Dr Forson made the disclosure after touring the Gold Coast Refinery on Wednesday, February 4. He said the Gold Board has agreed to supply the refinery with one metric tonne of gold per week for processing, with plans to increase the volume in the near future.

The Finance Minister further explained that the Gold Board has the capacity to purchase an average of 2.5 tonnes of gold each week, and government intends to channel a greater portion of this supply into local refining.

He stressed that it is government policy to ensure that, in the shortest possible time, Ghana stops exporting raw gold and instead refines it locally to maximise value and strengthen the domestic gold industry.