The Minister for Finance, Dr Cassiel Ato Forson, has announced that Ghana is set to establish its first modern fire assay laboratory, a development he described as a historic milestone in the country’s gold value chain and revenue assurance framework.
Dr Forson made the announcement during an inspection visit to the Gold Coast Refinery, where he was accompanied by the Chief Executive Officer of GoldBod, Sammy Gyamfi, and the Deputy Chief Executive Officer, Richard Nunekpeku.
The delegation was received and taken around the facility by Dr Saeed Deraz, Chairman and Chief Executive Officer of Gold Coast Refinery Ltd.
Speaking after the tour, the Finance Minister underscored the transformational significance of the planned laboratory.
“For the first time since independence, Ghana will have the domestic scientific capacity to determine the true value and purity of its gold,” he said. He explained that the facility will fundamentally change how gold is valued, tested and certified within the country.
According to Dr Forson, the fire assay laboratory will strengthen royalty assessments, improve transparency in mineral transactions, and significantly boost national revenue by reducing Ghana’s dependence on foreign testing centres. He noted that precise and reliable gold assaying is essential to ensuring the state receives its full and fair share of earnings from gold production and exports.
Beyond revenue mobilisation, the Minister said the project would enhance institutional credibility, bolster investor confidence, and position Ghana as a more competitive and self-reliant participant in the global gold market.
Dr Forson added that the initiative forms part of a broader economic transformation agenda focused on value addition, institutional strengthening, and ensuring that Ghana’s natural resources deliver maximum benefit to the Ghanaian people.