- Ghana is one of the top producers of gold in Africa and the seventh leading producer in the world.
- However, the country lacks local refining capacity. India and Ghana have agreed to partner in setting up a gold refinery in Accra, Ghana.
- The Project cost of $25mn will be entirely financed by the Indian Government.
Ghana is one of the top producers of gold in Africa and the seventh leading producer in the world. However, the country lacks local refining capacity. India and Ghana have agreed to partner in setting up a gold refinery in Accra, Ghana. The Project cost of $25mn will be entirely financed by the Indian Government.
Apart from creating local processing capacity, the project is expected to generate employment for youth. Deputy Minister of Land and Natural resources, George Mireku informed that the refinery is expected to be commissioned by the end of November. The Indian Government will own 80% and the Ghanaian government 20% share in the project. He added that the agreement, provides for renegotiations for a 50-50 partnership in five years and after 6 years, the Ghanaian government can buy the entire shares.
