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Finance Minister Dr. Cassiel Ato Forson declared that the government will shortly halt the export of unprocessed gold to enhance local value addition and bolster Ghana’s gold processing sector.
He revealed that notable advancements have been achieved in this area, with the Gold Coast Refinery presently processing one metric tonne of gold locally every week. He stated that the refinery can handle up to two metric tonnes each week.
After a visit to the Gold Coast Refinery on Wednesday, February 4, Dr. Forson announced that the Gold Board has consented to provide the refinery with one metric tonne of gold weekly for processing, intending to increase the supply soon.
The Finance Minister elaborated that the Gold Board can presently acquire approximately 2.5 tonnes of gold each week and that the government aims to direct more of that supply towards local refining.
“Clearly, this company, Gold Coast Refinery, has the ability to refine up to two tonnes of gold per week. Gold Board has agreed to provide them with one tonne of gold per week for refining. This will be scaled up to two tonnes per week in no time.
“Today, Gold Board has the capacity to buy 2.5 tonnes on average per week. It is our policy to ensure that, in the shortest possible time, we will not be exporting raw gold outside this country,” Ato stated.
Source: Ghanatodayonline.com
