5.4 tonnes of 5.7 tonnes of ASM gold purchased in October refined locally – GoldBod CEO

The Ghana Gold Board (GoldBod) says it has refined 5.4 tonnes of artisanal and small-scale mining (ASM) gold locally so far in October 2026, representing 94.6% of the 5.7 tonnes purchased during the month.

According to GoldBod , this signals an increase in local refining of gold purchased by the Board as Ghana seeks to retain more value from its mineral resources.

GoldBod Chief Executive Officer Sammy Gyamfi disclosed this while speaking at the African Minerals Policy Forum – Mining in Motion 2026 on October 19.

"In fact, in this month of October alone, the GoldBod has refined 5.4 tonnes of ASM gold locally, out of the 5.7 tonnes of ASM gold we have purchased. This represents a staggering 94.6% of local refining of ASM gold exports for this month of October," he stated.

Sammy Gyamfi noted that since August 1, 2026, 18.7 tonnes of ASM gold have been refined locally, representing 76% of total ASM gold exports (i.e. 25 tonnes) over the period.

He said earlier this year, the GoldBod entered into gold refining services agreements with two private-owned local gold refineries: Gold Coast refinery and Royal Ghana Gold refinery.

Highlighting progress made under the Board’s partnerships with these privately owned Ghanaian refineries, he said they have progressively increased their capacity to process gold locally.

Cumulatively, the two refineries have refined 25 tonnes of ASM gold purchased and exported by GoldBod this year, out of the 85.4 tonnes exported from year to date.

Sammy Gyamfi also disclosed that 30% of the output of large-scale mining companies purchased by the government under the Ghana Accelerated National Reserve Accumulation Program (GANRAP) is being refined locally.

He said Gold Coast Refinery and Royal Ghana Gold Refinery had demonstrated commitment and developed strategies to attain London Bullion Market Association (LBMA) accreditation within the next three to five years, with regulatory guidance from GoldBod.

"Gold Coast refinery and Royal Ghana Gold refinery have both demonstrated clear commitment and strategies to attaining LBMA accreditation in the next three to five years under the GoldBod’s regulatory guidance."