Business (Mining):
The Finance Minister announced Ghana will establish its first fire assay lab by the end of 2026 to enhance gold export standards.
Ghana is set to establish its first-ever fire assay laboratory by the end of 2026, aiming to strengthen accountability in the mining sector and enhance gold export standards. The Ghana Gold Board (GoldBod) has been tasked with setting up the facility, which will enable accurate valuation of gold produced in the country. This move is expected to boost revenue collection, improve transparency in mineral transactions, and position Ghana as a more competitive player in the global gold market.
The laboratory will allow large-scale mining companies to submit their gold for fire assay testing, ensuring the state accurately assesses and collects royalties due from gold production. This development is part of the government's economic transformation agenda, focusing on value addition, institutional strengthening, and maximizing benefits from natural resources.
