Ghana refines 94.6% of October ASM gold locally, says GoldBod

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

The figure reflects a rise in the proportion of gold processed within Ghana as the country seeks to retain more value from its mineral resources.

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

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“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 said.

Mr Gyamfi added that 18.7 tonnes of ASM gold had been refined locally since August 1, 2026. That represents 76% of the 25 tonnes of ASM gold exported during the same period.

The progress follows agreements signed earlier this year between GoldBod and two privately owned Ghanaian refineries, Gold Coast Refinery and Royal Ghana Gold Refinery.

GoldBod said the partnerships had enabled both companies to expand their capacity to process gold within Ghana.

Together, the two refineries have processed 25 tonnes of ASM gold purchased and exported by GoldBod this year. That total forms part of the 85.4 tonnes exported by the Board year to date.

Large-scale mining output

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

He said Gold Coast Refinery and Royal Ghana Gold Refinery had shown a commitment to securing London Bullion Market Association (LBMA) accreditation, supported by regulatory guidance from GoldBod.

The two refineries have developed strategies aimed at achieving that accreditation within the next three to five years.

“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,” Mr Gyamfi said.