The Chief Executive Officer of Rand Refinery, Dean Subramanian, has stated that GoldBod’s refinery agreement with Gold Coast Refinery and Rand Refinery represents a significant step towards Ghana’s bid to achieve London Bullion Market Association (LBMA) accreditation.
The Ghana Gold Board (GoldBod) aims to enhance transparency and sustainability in Ghana’s gold sector by partnering with Gold Coast Refinery to position the country for LBMA accreditation, which would boost the reputation of Ghana’s gold exports.
According to Subramanian, Rand Refinery is ready to support the Ghana government’s aspirations for local refining through its partnership with Gold Coast Refinery.
“We can only achieve this through a continuous partnership between the Ghana Gold Board, Gold Coast Refinery and Rand Refinery,” he said.
Subramanian expressed strong commitment to working with Gold Coast Refinery and GoldBod to implement the necessary framework and ensure that sourced material meets international responsible sourcing requirements.
Meanwhile, the Chief Executive Officer of the Ghana Chamber of Commerce, Ing. Ken Ashigbey, has expressed commitment to supporting the Ghana Gold Board’s local refinery initiative by ensuring the involvement of large-scale mining companies.
According to him, the Chamber supports the idea of refining gold in Ghana and, therefore, its decision to engage Gold Coast Refinery, the Ghana Gold Board and Rand Refinery in a bid to secure LBMA accreditation, which would ensure product purity and ethical sourcing.
He was speaking at a ceremony to sign a gold refinery agreement between the Ghana Gold Board, Gold Coast Refinery and Rand Refinery.
GoldBod, on Tuesday, January 20, signed a landmark gold refining agreement with Gold Coast Refinery, marking a major step towards deepening value addition within Ghana’s gold sector.
The partnership seeks to reduce Ghana’s long-standing reliance on exporting raw gold—a practice that has historically resulted in significant revenue losses that could otherwise be captured through domestic refining and downstream processing.
Under the agreement, gold sourced from both artisanal and large-scale mining operations will be refined locally for trade and export, strengthening Ghana’s position along the global gold value chain.
The Gold Coast Refinery was established to promote growth in Ghana’s gold industry and support government macroeconomic management efforts. Its main purpose includes processing raw gold dust, scrap gold and other precious metals to achieve high purity levels of up to 99.99 per cent, supporting Ghana’s goal of locally processing 30 per cent of its gold. Ghana is currently one of the world’s top 10 gold-producing countries.
The refinery also provides services such as assaying, smelting, refining, vaulting, transportation and the export of refined gold.
Source: myxyzonline.com
