Ghana Moves to End Exports of Unrefined Gold Doré from September
Ghana Bans Export of Unrefined Gold Doré from September in Push for Local Refining
Ghana is tightening controls on gold exports as the country moves to require all gold doré purchased by Self-Financing Aggregators (SFAs) to be refined locally before export.
The new directive, issued by the Ghana Gold Board (GoldBod) on August 24, will take effect on September 1, 2026.
From that date, no unrefined gold doré handled by SFAs and their approved offtakers will be approved for export.
Under the new rules, gold must be refined at a refinery approved or designated by GoldBod before an export application can be processed.
Existing offtake agreements must also be amended by August 31 to include the mandatory local-refining requirement.
The cost of refining will be covered by the SFA or its approved offtaker, depending on their commercial agreement.
GoldBod will only approve exports after confirming that the gold has been refined, applicable charges have been settled and all regulatory requirements have been met.
Ghana pushes for greater value addition
The policy forms part of Ghana’s broader strategy to retain more value from its gold industry by expanding domestic refining and reducing reliance on overseas processing.
Ghana has already increased state participation in the gold supply chain. Since July 2026, large-scale mining companies have been required to sell 30% of their gold output to GoldBod, with the gold purchased in doré form and processed locally.
The government is also targeting LBMA accreditation for at least one Ghanaian refinery by 2030, which would strengthen the country’s ability to participate more directly in international bullion markets.
The latest export restriction marks another step in Ghana’s efforts to move beyond being primarily a gold producer and become a more integrated gold processing and trading hub in Africa.
With gold prices remaining elevated and Ghana seeking to maximise foreign exchange earnings and domestic economic benefits from its mineral resources, the policy could significantly reshape the country’s gold value chain.
