Africa-Press – Ghana. Dr Cassiel Ato Forson, the Minister of Finance, has described the Gold Coast Refinery as a significant milestone in Ghana’s industrialisation drive and broader economic transformation agenda following an inspection tour of the facility on Wednesday.
He commended the management and staff for the successful establishment and operation of a “world-class gold processing facility.”
The Minister undertook the visit together with Mr Sammy Gyamfi, the Chief Executive Officer of GoldBod and the Deputy Chief Executive officer, Mr Richard Nunekpeku.
They were received and conducted round the facility by Dr. Saeed Deraz, Chairman and Chief Executive Officer of Gold Coast Refinery Limited.
Dr Forson said the project reflected a long-standing national aspiration to move Ghana beyond the export of raw minerals.
“A while ago, I inspected the Gold Coast Refinery, a facility that represents a major step in Ghana’s industrial and economic transformation,” the Minister said.
He commended the management and staff for establishing and operating such an impressive refinery.
Dr Forson explained that the refinery embodied a vision first articulated by President John Dramani Mahama in 2016 that Ghana must refine its own gold locally and retain greater value from its natural resources rather than exporting unprocessed bullion.
He said with a refining capacity of up to two tonnes of gold per week, the country was gradually shifting from the traditional model of exporting raw gold to exporting fully refined Ghanaian gold.
He emphasised that the transition would deepen value addition within the mining sector, create skilled employment opportunities, and significantly strengthen the nation’s foreign exchange earnings.
The Finance Minister revealed that government was collaborating with GoldBod to establish a modern fire assay laboratory before the end of the year to enhance scientific verification of gold quality and valuation within the country.
“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.
“This will improve royalty assessments, enhance transparency, and boost national revenue.”
Dr Forson said rhe initiative formed part of a broader economic reset strategy focused on institutional strengthening and maximising the benefits derived from Ghana’s natural wealth.
The inspection underscores government’s renewed emphasis on downstream mineral processing as a pillar of economic diversification, revenue mobilisation, and sustainable industrial growth.
