The Association of Small-Scale Miners says Ghana’s push to refine gold locally should not be viewed only through the lens of the additional costs it could impose on industry player
The report indicates that the Association of Small-Scale Miners says Ghana’s push to refine gold locally should not be viewed only through the lens of the additional costs it could impose on industry players.
It further notes that communication Director of the Association, Abdul Razak Alhassan, says the country must also consider the jobs and wider economic benefits that local refining could create.
His comments come after the Ghana Gold Board (GoldBod) directed all Self-Financing Aggregators (SFAs) to refine gold doré in Ghana before exporting it.
The directive takes effect on September 1, 2026. It requires gold purchased under arrangements with approved offtakers to be refined locally before export.
The refining cost will be borne by the SFA or its approved offtaker, depending on their commercial arrangement.
Speaking on Joy News’ PM Express on Wednesday, Mr Alhassan acknowledged concerns over the cost implications.
He, however, argued that operators in the sector already face significant expenses before they even obtain the gold-bearing ore.
“Gold itself is a commodity whereby there are so many challenges in it. So sometimes you need to work on yourself; you need to weigh yourself before you enter into that industry.”
He stated the cost of operating in the small-scale mining sector must be considered alongside the cost of refining.
“So the operational cost and everything, we as industry players, even to get the ore itself, you incur so many challenges or so many costs.”
For him, requiring miners and aggregators to absorb the refining cost should therefore not be considered unreasonable.
“If they are also taking the other side of it, I don’t think there should be any big deal. So I think them bearing the cost shouldn’t be anything, because it will also help the country and then reduce youth unemployment.”
He believes the employment opportunities that could emerge from a stronger domestic refining industry should form part of the policy debate.
“Because when this refinery kicks off, as my other colleague said, they have some number of people, youth, that they will employ. So we should look at the balance.”
