Ghana is set to establish its first modern fire assay laboratory, a move the Minister for Finance, Dr Cassiel Ato Forson, describes as a historic milestone in the country’s gold value chain and revenue assurance system.
The announcement was made during an inspection visit to the Gold Coast Refinery, where Dr Forson was accompanied by Sammy Gyamfi, the Chief Executive Officer of GoldBod, and Richard Nunekpeku, the Deputy Chief Executive Officer. The delegation was received by Dr Saeed Deraz, Chairman and Chief Executive Officer of Gold Coast Refinery Ltd., who conducted them through the facility.
Highlighting the significance of the initiative, Dr. Forson said, “For the first time since independence, Ghana will have the domestic scientific capacity to determine the true value and purity of its gold.” He noted that the planned laboratory will transform how gold is tested, valued, and certified within the country.
According to the Finance Minister, the fire assay laboratory will improve royalty assessments, strengthen transparency in mineral transactions, and boost national revenue by reducing Ghana’s reliance on foreign testing centres. Accurate gold assaying, he stressed, is critical to ensuring the state receives its full and rightful earnings from mineral exports.
Beyond revenue gains, Dr. Forson said the project will enhance institutional credibility, boost investor confidence, and position Ghana as a more competitive and self-reliant player in the global gold market.
The initiative, he added, aligns with the government’s broader economic transformation agenda, focused on value addition, institutional strengthening, and maximising the benefits of natural resources for the Ghanaian people.
Once operational, the fire assay laboratory is expected to become a key pillar of Ghana’s mineral governance framework—reinforcing accountability, precision, and long-term sustainability in the gold sector.
paqmediagh/Peter Quao Adattor
