Vice President Dr. Mahamudu Bawumia officially commissioned the Royal Ghana Gold Refinery in Greater Accra on Thursday afternoon, marking a major advancement in Ghana’s natural resources sector.
The refinery is expected to enhance the value of gold exported from Ghana, creating between 80 and 120 direct jobs and an additional 500 indirect employment opportunities. It will also boost domestic tax revenue through corporate taxes and enable Ghana to refine gold to the highest international standard of 24 carats, 99.99% purity, equivalent to a London Bullion Market Association (LBMA) good delivery bar.
During the commissioning ceremony, Vice President Bawumia emphasized that this achievement is a significant milestone in Ghana’s path toward economic transformation and industrialization. He highlighted that the establishment of the refinery is not just a new facility but a testament to the government’s commitment to adding value to the country’s natural resources, creating jobs, and fostering sustainable economic growth.
“The partnership between the Government of Ghana, through the Bank of Ghana, and Rosy Royal Minerals Limited represents a shared vision for a prosperous future in the precious minerals industry. This state-of-the-art refinery, which we are commissioning today, is equipped with cutting-edge technology that meets international standards. It will significantly enhance our capacity to process gold locally and increase the prospects for value addition,” Dr. Bawumia stated.
The Vice President also stressed the importance of ensuring that the gold processed by the refinery is responsibly sourced. He explained that responsibly sourced gold is extracted legally, with full consideration for the environment, and is free from conflict, human rights abuses, and child labor.
Dr. Bawumia highlighted that the refinery has the capacity to refine 400 kilograms of Dore gold per day, making it capable of handling all the gold exported from Ghana over 300 working days per year. He expressed optimism that domestic mines will utilize the refinery as their primary facility, which would enable the Royal Ghana Gold Refinery to achieve LBMA good delivery list accreditation within three years, positioning it as the second refinery in Africa to attain this status.
“This refinery is a stepping stone toward establishing Ghana’s gold on the global market. The Royal Ghana Gold Refinery symbolizes our determination to maximize the benefits of our mineral resources for all Ghanaians. We must pursue excellence, innovation, and sustainable economic development while ensuring the responsible extraction of our mineral resources,” Dr. Bawumia urged.
The Vice President assured that the government would collaborate closely with the Royal Ghana Gold Refinery to secure the LBMA certification. He emphasized that the government’s support extends to both small- and large-scale miners across the country, whose cooperation is essential in this nation-building effort.
“The government is actively pursuing this international certification, with efforts being led jointly by the Bank of Ghana and the Ministry of Lands and Natural Resources. We will work collaboratively with key stakeholders, particularly large and small-scale miners, to progressively ensure that all gold is refined before export,” Dr. Bawumia concluded.
