GoldBod Directs Mandatory Local Refining Of Gold Doré Before Export Effective September 1
The Ghana Gold Board has directed that all gold doré purchased under arrangements with approved Offtakers must be refined locally in Ghana before export, with the new requirement taking effect from September 1, 2026.
The directive was contained in a notice issued to all Self-Financing Aggregators by the Compliance Directorate of the GoldBod and dated August 24, 2026.
The Board said the measure is pursuant to the Ghana Gold Board Act, 2025 (Act 1140) and in furtherance of its mandate to regulate the purchase, sale, refining, value addition and export of gold in Ghana, and is to be read together with the Guidelines for the Onboarding of Offtakers and the Conduct of Transactions with Offtakers issued on July 13, 2026.
Under the directive, no gold doré shall be exported in its unrefined state from the effective date, and every offtake agreement or commercial arrangement entered into between a Self-Financing Aggregator and an approved Offtaker must expressly provide for mandatory refining in Ghana prior to export.
The Board has also stated that no request for the export of gold doré will be approved unless the gold has first been refined locally in accordance with the notice.
The GoldBod further indicated that all refining shall be undertaken only at a refinery approved or designated by the Board, adding that it reserves the right to determine the refinery at which any gold shall be refined and to issue additional operational directives governing the process.
The cost of refining, according to the notice, shall be borne by the Self-Financing Aggregator or the approved Offtaker in line with their commercial arrangements and must be paid before the export of the refined gold.
The Board has directed all Self-Financing Aggregators to amend all existing offtake agreements and related commercial arrangements with approved Offtakers on or before August 31, 2026 to incorporate the mandatory local refining requirement, noting that evidence of such amendment may be requested at any time.
From September 1, GoldBod will only process export requests after confirming that the gold has been refined in Ghana, that applicable refining charges have been paid or settled, that all assay, regulatory and export requirements have been complied with, and that all other conditions governing the export have been satisfied.
The Board reminded Aggregators that the notice forms part of the terms and conditions of their licences and warned that failure to comply, including the export or attempted export of unrefined gold doré contrary to the directive, will constitute a breach of the conditions of a licence and may result in regulatory action, including refusal or suspension of export approvals, suspension or revocation of licences, administrative sanctions and other enforcement action permitted under the Ghana Gold Board Act and applicable regulations.
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