Sammy Gyamfi, CEO of Goldbod, has announced that the company will begin operations in the first week of May. Goldbod, which holds exclusive rights to buy, sell, weigh, grade, assay, and export gold and other precious minerals in Ghana, is poised to revolutionize the country’s mineral resource sector.
According to Gyamfi, the operationalization of Goldbod marks a significant step toward realizing the government’s vision of adding value to Ghana’s mineral wealth. He made this revelation during a courtesy visit to the CEO of Gold Coast Refinery, a major stakeholder in the country’s gold refining efforts.
The Gold Coast Refinery, the largest gold refinery in West Africa, was commissioned by President John Dramani Mahama on November 11, 2016. However, it remained underutilized for the past eight years under the previous NPP administration. Gyamfi expressed determination to revive the facility and integrate it into Goldbod’s broader strategy.
“This is the unfortunate reality of the Gold Coast Refinery, a world-class facility located here in Accra. Despite its immense potential, it has been left dormant. At Goldbod, we are committed to reversing this trend. As part of our value addition strategy, we will ensure this refinery becomes fully operational, with a clear roadmap to achieving LBMA (London Bullion Market Association) accreditation. This will enable us to unlock immense economic benefits for the nation,” Gyamfi said.
In the immediate term, Goldbod aims to transition Ghana from exporting unrefined gold (dore bars) to refined gold (bullion). This will be achieved through partnerships with the Gold Coast Refinery and other local refineries, optimizing the value derived from the country’s gold resources.
Gyamfi also highlighted a significant achievement under the leadership of President Mahama. “Thanks to the foresight and leadership of H.E. John Dramani Mahama, Ghana now holds a free carried interest of 15% in the Gold Coast Refinery. This ensures that the nation directly benefits from its operations,” he noted.
The revival of Goldbod and its strategic partnerships represent a renewed commitment to Ghana’s mineral sector, with the promise of increased revenues, job creation, and enhanced global competitiveness in gold refining.
Story by: Mercy Addai Turkson #ahotoronline.com
