The Vice President Dr. Mahamudu Bawumia on Thursday, August 8, 2024, commissioned the Royal Ghana Gold Refinery, a state-of-the-art facility capable of refining four hundred kilograms (400kg) of gold daily.
The Accra-based refinery, which can produce refined gold at twenty-four (24) carats with a quality rate of ninety-nine point nine-nine percent, marks a significant milestone in the government’s journey to move Ghana from mineral production to value addition.
Delivering the address at the commissioning, the Vice President, Alhaji Dr. Mahamudu Bawumia stated that the fruition of the refinery represents a strategic investment decision by the government and further drives the mission to add value to Ghana’s mineral resources. He disclosed that the refinery will create more than 600 direct and indirect jobs for Ghanaians.
Dr. Mahamudu Bawumia highlighted features of the refinery that makes it an outstanding achievement for the government in job creation and revenue generation avenues, and also moves Ghana a step closer to the dream of making the country a hub for mineral refinery.
“The establishment of this refinery is a strategic investment which contributes immensely to the Government’s efforts in ensuring value addition to our mineral resources. Currently, our country’s gold is exported in raw form and is refined outside Ghana, resulting in lost revenue and missed opportunities for job creation. Between 2018 and 2023, Ghana’s average annual gold production was 3.92 million ounces (122.5 tonnes). All this gold was exported unrefined, resulting in lost revenue and missed job creation opportunities.
“The refinery will offer more premium to gold exported from Ghana. Initially, it is expected to create 80 to 120 direct jobs and another 500 indirect employment opportunities, boosting domestic tax revenue in the form of corporate taxes.
