Adding Value

Ghana is the second largest gold producer in Africa, after South Africa, and the 10th largest in the world. In spite of this remarkable global position, the country continues to remain a primary producer and exporter of raw gold. Policy initiatives aimed at adding value to raw materials in the country have largely not been realized. The continuous export of raw gold (Dore) denies the country of all associated benefits including by-products of refining such as silver, platinum, palladium and copper. The establishment of a Refinery  is an important step in solving the problem of value addition.

The Problem

Ghana-Gold has been mined and traded in West Africa for hundreds of years. In Ghana, most of the gold that is mined is exported out of the country as gold dust or unrefined bars. Licensed gold buyers and exporters generally purchase gold at rates that are below the published daily world gold price to compensate for the purity (fineness) of the gold and the transaction, transport and tax costs that need to be paid, plus a modest operating profit.

At present the only way that a gold miner or gold dealer can improve the price that they get for their gold is by selling it to gold smugglers instead of licensed gold exporters. Gold smugglers are often prepared to pay slightly more than a licensed exporter because their intention is to transport the gold out of the country without paying the Government any export tax or licensing fees.

The Solution

The development of a gold refinery in Ghana would provide gold miners with alternative to selling their production to licensed gold dealers and exporters. They would have the option of selling directly to the gold refinery or making use of the services offered by the refinery while retaining ownership of their gold. Investors from outside Ghana would be offered a secure transportation service to the destination of their choice or an option for the secure storage of gold in Ghana. Worldwide, exporting refined gold generally presents fewer challenges than the transportation of unrefined gold.

  • Our Intention

    Royale Mining’s intention is to apply for a license from the Government of Ghana to refine gold and manufacture investment bullion bars and coins. The gold refinery would also provide an assay service and secure storage facility.

  • Building a better future

    RRM  was given approval by the Ministry of Trade and Industry to build and operate a factory that would provide “gold assaying and refining services to produce, process manufacture and trade certified bankable investment gold products such as gold coins and bars to a purity of 99.99%”. ( include details of MOU with PMMC).

    People in high places

    The founders of RRM Limited have discussed the construction and operation of a Gold Refinery with officials from various Government Ministries including the Ministry of Mineral Resources, Ministry of Trade and Industry and with Members of Parliament.

Internationally recognised, Valued Locally

The development of a modern gold assaying and refining factory in Ghana would add value locally, it would also ensure that gold producers have a willing buyer close at hand that would be willing to pay a fair price for their production. The aim would be to operate the refinery as a private /public partnership in co-operation with the Central Bank. The refinery would provide services to the Government of Ghana, Mining Companies and to Companies and Individuals that wish to export gold or use it for the manufacture of jewellery.

The refinery would also be able to offer services for the assaying and re-processing of scrap or imported gold. The operation of a professional assay laboratory and gold refinery would improve confidence and improve the reputation of the goldmining and gold exporting businesses in Ghana. The refinery would seek to become an internationally recognized and accredited business as soon as possible.

Individuals, families, small alluvial gold mining companies and co-operatives produce much of the gold that is presently mined in the country. Alluvial diamond mining companies and those mining other minerals often produce gold as a by-product. There are also some companies developing plans to mine gold from underground and surface mines.

  • Get In Touch

    Royale Mining Resources Plc
    27 Old Gloucester Street,
    WC1N 3AX

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