Ing. Dr. Ken Ashigbey has described the GoldBod–Gold Coast Refinery gold refining agreement as a critical milestone in Ghana’s journey toward achieving London Bullion Market Association (LBMA) accreditation and deepening local value addition in the gold sector.
Speaking at the signing ceremony, he congratulated the Chief Executive Officer and Board of the Ghana Gold Board, as well as the Bank of Ghana and its Board, for their roles in bringing the landmark agreement to fruition.
He noted that the agreement marks only the beginning of a longer process aimed at entrenching gold refining in Ghana, stressing that the Chamber’s commitment to local refining goes beyond rhetoric.
According to him, the Chamber has actively engaged Gold Coast Refinery, Rand Refinery, and Royal Refinery as part of a deliberate strategy to build the technical and institutional foundations required for LBMA accreditation.
He explained that partnerships with established international refineries, particularly Rand Refinery offer a practical pathway to upgrading local capacity through a phased, two-stage refining process.
Ing. Dr. Ashigbey expressed confidence that the agreement signed between GoldBod and Gold Coast Refinery provides the stock and systems needed to initiate the LBMA accreditation process locally.
He stated that once the necessary procedures are followed and volumes increase under the new refining framework, Ghana is well positioned to achieve LBMA standards.
He added that attaining accreditation would be a turning point for the industry, as it would encourage large-scale mining companies to refine their gold domestically rather than exporting it in raw form.
He further emphasized that the long-term vision is to see gold refined in Ghana and stamped with the country’s identity, symbolizing national ownership and value retention.
Describing the development as a historic step, Ing. Dr. Ashigbey called on all stakeholders including GoldBod, the Bank of Ghana, Gold Coast Refinery, and Rand Refinery to remain committed to ensuring the success and sustainability of the initiative.
He stressed that with sustained collaboration and discipline, the process that has begun will transform Ghana’s gold industry and deliver lasting national benefits.
In a related development, the CEO of GoldBod, Sammy Gyamfi, Esq. at the signing ceremony asked that large scale mines should consider refining their gold in Ghana.
According to him, since such a landmark agreement has been signed with Gold Coast Refinery to refine artisanal small-scale mined gold, large scale mines should begin to consider refining their gold locally.
He urged the CEO of Ghana Chamber of Mines, Ing. Dr. Kenneth Ashigbey speaks with his member companies so that in the near future, the refining agreement will rope in large scale mines as well.
