Royal Gold Refinery Limited has pledged to align its operations with the government’s proposed 24-hour economy policy, a move expected to boost gold processing capacity and create employment opportunities for Ghanaian youth.

The Chief Executive Officer of Royal Gold Refinery Limited, Eric Frimpong Santeng, made this known following a visit by the Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, to the refinery in Accra.

The visit formed part of efforts to assess the facility and explore a potential refinery agreement between the two entities.

Mr. Santeng emphasized that adopting a 24-hour operational model would significantly expand employment opportunities, particularly for young people seeking stable, full-time jobs.

“It is our vision to support the president’s agenda. The 24-hour economy is what we want to implement here to ensure our youth gain meaningful employment,” he stated. He added that the company has engaged experienced technical experts to train local staff, who will eventually take over operations.

According to him, the refinery, when operating at full capacity, is expected to employ about 27 workers per shift.

On his part, Mr. Gyamfi disclosed that GoldBod has engaged a technical expert to conduct a detailed assessment of the facility and determine the viability of entering into a formal agreement.

“Our expert will work closely with them on a daily basis, providing guidance and support where necessary, given his deep understanding of the system we intend to implement,” he said.

Mr Gyamfi expressed optimism that both parties would soon finalize an agreement to fully operationalize the refinery. He indicated that future visits to the facility could involve key government officials, including the Ministers for Finance and Lands and Natural Resources, as well as the Governor of the Bank of Ghana, who he noted is a stakeholder in the broader plan.

The refinery, commissioned on August 8, 2024, has the capacity to process up to 400 kilograms of gold daily. It is capable of producing gold refined to 24 carats with a purity level of 99.99 percent, marking a significant step in Ghana’s efforts to shift from raw mineral exports to value-added production.

Meanwhile, Ghana has also taken a major step toward safeguarding the value of its gold exports through a partnership between the Ghana Gold Board and Gold Coast Refinery, with technical support from Rand Refinery.

The agreement, signed in Accra on January 20, 2026, will ensure that gold is refined locally for both domestic use and export. The initiative aims to address longstanding concerns about purity losses and the undervaluation of Ghana’s gold on the international market.

Under the arrangement, GoldBod will supply at least one metric tonne of gold per week to Gold Coast Refinery starting February 1, 2026, with volumes expected to increase over time. The refinery, one of the largest in Africa, has an annual processing capacity of up to 180 tonnes.

Gold produced under this partnership will meet a minimum purity standard of 99.5 percent, with the capability to achieve up to 99.999 percent purity—commonly referred to as “five nines.” Exported gold bars will carry hallmarks from Gold Coast Refinery, GoldBod, the Ghana Standards Authority, and the Bank of Ghana, ensuring international recognition of their quality and authenticity.