Government targets 100% local refining of small-scale gold by 2028

Finance Minister Dr. Cassiel Ato Forson has announced that the Ghanaian government aims to achieve 100% local refining of artisanal and small-scale mining (ASM) gold by December 2028. Presenting the 2027 Budget to Parliament, the Minister stated that a total ban on the export of raw ASM gold will be implemented starting in 2028. This policy shift is a central component of a US$1.5 billion investment plan dedicated to adding value to the country's mineral resources, specifically focusing on gold, manganese, bauxite, and lithium.

To facilitate this transition, the government will establish a 24-hour critical minerals processing enclave in the Western Region. The facility is intended to foster a domestic mineral economy and create thousands of skilled industrial jobs. As an intermediate milestone, the government has set a target to refine at least 70% of ASM gold locally by December 2027. This phased approach is designed to ensure that local refineries have the capacity and infrastructure to handle the nation's total small-scale output by the 2028 deadline.

The industrial strategy extends to other critical minerals, with the government targeting at least 50% local processing of manganese and bauxite by the end of 2028. A complete ban on the export of these minerals in their raw state is planned for 2030. To support these goals, the budget includes provisions for significant infrastructure development, including a new railway line connecting the Takoradi Harbour to Nyinahin. Construction on this rail link is scheduled to begin in 2027 to streamline the transportation of raw ores to processing sites.

By prioritizing value addition over the export of raw materials, the government expects to significantly increase export earnings and improve the retention of mineral wealth within the national economy. Minister Forson emphasized that the initiative's success would be evaluated based on job creation, local industry growth, and the overall industrialization of the mining sector. This move aligns with broader efforts to transform Ghana into a hub for mineral processing and aluminum refining in West Africa.