GoldBod makes local Gold refining mandatory before export
BY; Regina Bless
The Ghana Gold Board (GoldBod) has announced a new directive requiring all gold doré purchased by Self-Financing Aggregators (SFAs) under arrangements with approved Offtakers to be refined in Ghana before it can be exported.
The directive, issued under the Ghana Gold Board Act, 2025 (Act 1140), will take effect from September 1, 2026.
Under the new policy, no unrefined gold doré will be permitted for export. GoldBod said all agreements between SFAs and approved Offtakers must include provisions requiring the gold to undergo local refining before export.
The Board will only approve export requests after confirming that the gold has been refined at a refinery approved or designated by GoldBod. The institution also reserves the authority to determine which approved refinery will handle specific gold consignments and may issue additional requirements concerning the refining process.
Refining Costs
The cost of refining will be the responsibility of the SFA or the approved Offtaker, depending on their commercial agreement. The applicable refining charges must be settled before the refined gold is exported.
GoldBod has also directed SFAs to review and amend their existing offtake agreements with approved Offtakers by August 31, 2026, to incorporate the new local refining requirement. The Board may request evidence that such amendments have been made.
Conditions for Export Approval
From September 1, GoldBod will process export applications only after verifying that the gold has been refined locally, the required refining charges have been paid or settled, and all relevant assay, regulatory and export conditions have been met.
The Board warned that failure to comply with the directive, including attempts to export unrefined gold doré, will amount to a breach of SFA licence conditions.
Possible regulatory measures include refusal or suspension of export approvals, suspension or revocation of licences, administrative sanctions and other enforcement measures permitted under the Ghana Gold Board Act and applicable regulations.
The directive forms part of GoldBod’s broader mandate to regulate the purchase, sale, refining, value addition and export of gold in Ghana.