Bawumia to Commission State-of-the-Art Gold Refinery on Thursday

Vice President Mahamudu Bawumia, a strong advocate for the value addition of Ghana’s resources, is set to commission a state-of-the-art gold refinery on the Kinbu Road in Accra on Thursday, August 8, 2024. This announcement was made on the Bawumia Campaign page on X.

The refinery, dubbed the Royal Ghana Gold Refinery, aims to add value to Ghana’s gold and make it more competitive in the global gold market.

Governor of the Bank of Ghana, Ernest Addison, and Finance Minister Mohammed Amin Adam are scheduled to participate in the commissioning of the refinery. Other government officials expected to attend the event include the Minister of Lands and Natural Resources, Samuel Abu Jinapor, and the Royal Ghana Gold Refinery Chief Executive Officer, Eric Santeng.

Vice President Dr. Mahamudu Bawumia has been a vocal proponent of the Gold-for-Oil policy, emphasizing the importance of adding value to Ghana’s gold to boost the economy. He described the Bank of Ghana’s Domestic Gold Purchase Programme as a game-changer, aiming to purchase locally produced gold to strengthen macroeconomic management and stabilize the national currency.

As part of his Bold Solutions for Ghana, Dr. Bawumia has outlined plans to attract increased investment in the mining sector, focusing on modernizing infrastructure and technology. These efforts are expected to enhance productivity and efficiency, leading to higher production levels and revenues.

By adding value to gold, Ghana can diversify its economy, reduce dependency on raw material exports, and create more jobs. This will contribute to overall economic development and improve living standards.

These initiatives are part of a broader strategy to integrate and develop the entire mining value chain, ensuring long-term benefits for the country.

By Derick Botsyoe