Gov't moves to end raw mineral exports by 2030 — Sammy Gyamfi

The Chief Executive Officer of the Gold Board, Sammy Gyamfi, says the government has already begun implementing a major policy shift aimed at ending the export of raw minerals and boosting value addition in Ghana’s mining sector.

Speaking on Joy News’ PM Express Business Edition, Mr Gyamfi revealed that the transition from exporting raw gold to refined gold is already underway, driven by a directive from President John Dramani Mahama.

“This is not a promise… it is something we are doing,” he emphasised, noting that the initial focus is on the small-scale mining sector as government leads by example.

Refining Capacity Expansion

To support the transition, the government is ramping up local refining capacity through strategic partnerships. Mr Gyamfi disclosed ongoing engagements with SAM Refinery—one of the world’s largest refineries—to establish operations in Ghana.

He also announced plans to construct a major refinery within the Kotoka International Airport enclave. The proposed facility is expected to have a capacity of about 600 tonnes and will be capable of refining all gold produced by the small-scale sector locally.

According to him, the project is short-term, with construction expected to begin this year and be completed by next year.

Beyond Refining: Value Addition

Mr Gyamfi stressed that refining alone is not enough, highlighting the need to move further into fabrication and manufacturing.

As part of this effort, the government has revitalised its jewellery arm, transforming PMMC Jewellery into Gold Board Jewellery after injecting over GH¢50 million into the business.

The company is already showing strong growth, with revenue reportedly rising from GH¢65 million last year to a projected GH¢140 million this year.

“Golden Kilometre” Vision

In a bid to promote Ghana as a hub for gold-based commerce, Mr Gyamfi revealed plans for a flagship retail initiative known as the “Golden Kilometre Project.” The concept is to develop a dedicated zone filled with jewellery and gold ornament shops, similar to gold markets seen in global cities like Dubai.

2030 Target

The broader vision, he said, is clear: by 2030, no mineral should leave Ghana in its raw state.

He attributed the progress so far to leadership and political will, stating that systems and structures have already been put in place to drive the transformation.

The initiative marks a significant shift in Ghana’s resource management strategy, aiming to maximise economic value, create jobs, and strengthen the country’s position in the global minerals value chain.