Ghana Tightens Gold Export Rules as Government Pushes Local Refining

Ghana has introduced tighter rules around the export of unrefined artisanal gold as the country seeks to capture more economic value from its gold resources.

Under the new policy, gold doré purchased by self-financing aggregators must undergo local refining before it can be exported.

The government wants more of the processing and economic benefits associated with gold to remain within Ghana instead of exporting largely unprocessed material.

Ghana is one of Africa’s major gold producers, making the policy important for the country’s foreign-exchange earnings and mining industry.

The new requirements took effect from September 1.

Africa Business Watch: Ghana’s approach could become an example for other African resource-producing countries seeking to move from simply exporting raw materials to building stronger local industries.