The Asantehene, Otumfuo Osei Tutu II, has endorsed President John Dramani Mahama’s mineral reset agenda, describing the government’s focus on local processing and value addition as essential to Ghana’s economic transformation.
Mahama’s minerals agenda seeks to move the country away from exporting raw minerals towards processing more of its mineral resources locally to retain greater economic benefits.
Speaking on behalf of the Asantehene at the Mining in Motion conference on Monday, October 19, Essumejahene Nana Okyere Kusi Ntrama said the government’s approach to mineral governance could help Ghana break the cycle of poverty.
Nana Okyere Kusi Ntrama maintained that despite the controversies surrounding the Ghana Gold Board (GoldBod), the broader objective of taking greater control of the country’s mineral wealth remained relevant.
According to Nana Okyere Kusi Ntrama, the focus of the government’s reset agenda should be on what Ghana produces from its mineral resources rather than simply exporting them in their raw form.
Nana Okyere Kusi Ntrama explained that the policy direction announced by President Mahama shortly after assuming office reflects the need for Ghana to derive greater value from its natural resources through domestic processing and related industries.
He further linked the agenda to the vision of Ghana’s first President, Dr Kwame Nkrumah, who sought to harness the country’s mineral wealth to support industrialisation, including efforts to establish a gold refinery in Tarkwa.
“Regardless of the controversies surrounding the Gold Board, there should be no doubt that the nature of the President’s reset agenda takes us right back to the very foundation of our republic, when Dr Kwame Nkrumah sought to harness our minerals and move to establish a gold refinery in Tarkwa,” he said.
He added that the direction of the country’s mineral policies and the way its resources are utilised would be central to determining the benefits Ghana derives from its natural wealth.
The endorsement places renewed emphasis on local value addition as a key component of Ghana’s mineral governance, with the government’s agenda seeking to ensure that more economic benefits from the country’s resources remain within the country.
Meanwhile, President Mahama at the Mining in Motion Conference revealed that Ghana is strengthening local gold assaying, refining and related services to retain a greater share of the economic benefits from its gold resources.
Mahama disclosed that the initiative, being pursued through the Ghana Gold Board (GoldBod) and the country’s gold refining policy, is aimed at expanding domestic participation in the gold value chain instead of relying largely on the extraction and export of raw minerals.
He stressed the need for Ghana to derive greater economic benefits from its mineral resources by developing local capacity for processing and other value-added activities.
Mahama stated, “Through the Ghana Gold Board and our gold refining policy, we are working to retain more value through assaying, refining, and related services”.
In related news, Ghana Gold Board (GoldBod) has signed a gold refining agreement with Gold Coast Refinery.
The landmark partnership was signed on Tuesday, January 20, 2026.
The GoldBod and Gold Coast Refinery partnership mark a major milestone in Ghana’s step to add value within Ghana’s gold sector.
The partnership will reduce Ghana’s reliance on exporting raw gold, which has led to revenue losses.
Under the GoldBod partnership with Gold Coast Refinery, gold sourced from both artisanal and large-scale mining operations will be refined locally.
Speaking at the signing ceremony, Sammy Gyamfi, the GoldBod Chief Executive Officer, stated, “This development marks a major milestone in Ghana’s gold trade and will help maximise national benefits from our mineral resources”.
He further highlighted, “The millions of dollars we pay as refinery charges to refineries in Dubai, Switzerland, India, Hong Kong, and other foreign countries will now stay in our banking sector. That money will now stay in our economy.”
“What this agreement also means is that we are creating more direct and indirect jobs, particularly because Gold Coast Refinery has committed to operating 24/7 in line with the government’s 24-hour policy”, he added.
GoldBod and Gold Coast Refinery partnership follows earlier announcements by Sammy Gyamfi, who revealed plans for Ghana to refine gold before export from October 2025.
According to Sammy Gyamfi, Goldbod will establish a wholly state-owned and international-standard gold refinery.
He highlighted that the reset agenda of Mahama is aimed at transitioning Ghana from the export of raw doré to refined bullion.
He further argued that it was unacceptable for Ghana, as a leader in gold production on the continent, to be exporting raw gold without significant value addition.
@ghnow_ A commuter was stunned to see the 45 Military Pattern Utility Vehicles recently delivered to the Ghana Armed Forces to improve troop mobility and strengthen operational readiness. #GHNow #fyp ♬ original sound – NDCMUSICHQ
@ghnow_ Arrival of guest at ESP hotel for Seats of Strength 2026 hosted by Ama Burland and Gisela #GHNow #fyp ♬ original sound – officialpm.gh
@ghnow_ A commuter was stunned to see the 45 Military Pattern Utility Vehicles recently delivered to the Ghana Armed Forces to improve troop mobility and strengthen operational readiness. #GHNow #fyp ♬ original sound – NDCMUSICHQ
