By Collins Sarkodieh 
The economic strategy of West Africa biggest bullion producer is undergoing a massive structural transformation. The Chief Executive Officer of the Ghana Gold Board Sammy Gyamfi has officially announced a new milestone agreement with the Royal Ghana Gold Refinery.
The corporate partnership represents a deliberate move to refine gold locally, aligning seamlessly with the state broader value addition agenda.
This newly signed agreement marks the second major local refining partnership brokered by GoldBod, following an earlier state deal executed with the Gold Coast Refinery. The primary objective of these joint ventures is to permanently end Ghana long-standing practice of exporting raw, unprocessed gold.
Speaking to board members on Monday May 25 2026, Sammy Gyamfi stated that President John Dramani Mahama’s administration is highly determined to transform the extractive sector. When the current government assumed office on January 7 2025, the country completely lacked the domestic capacity to process its own precious metals. Large-scale mining conglomerates and small-scale artisanal miners alike exported all mined ore in its raw state. Gyamfi described this historical trend as a complete economic tragedy for a country globally celebrated for its immense mineral wealth. The state agency now possesses a clear executive mandate to systematically eliminate raw mineral exports by the year 2030.
Relying entirely on foreign refineries to process local natural resources is a logical misstep that costs developing economies billions in lost revenue. This fresh corporate agreement proves that GoldBod is ready to enforce strict resource nationalism.
While building up advanced industrial capacity takes time, securing partnerships with certified local refineries ensures that more wealth stays right inside the Ghanaian economy. If the state stays completely focused on this 2030 industrial timeline, the nation will successfully transition from a basic raw material exporter into a highly sophisticated global hub for premium refined bullion.
Also Read: GoldBod–Gold Coast Refinery Deal Signals New Direction for Ghana’s Gold Value Chain
Source – ghananewspage.com