GoldBod bans export of unrefined gold doré effective September 1

The Ghana Gold Board (GoldBod) has directed all Self-Financing Aggregators (SFAs) to refine gold doré locally before it can be exported from Ghana.

The directive takes effect on Tuesday, September 1, and applies to all SFAs and approved Offtakers operating under arrangements regulated by GoldBod.

Under the new directive, no gold doré purchased under an arrangement with an approved Offtaker will be allowed to leave Ghana in its unrefined state.

“Effective 1st September 2026, every Self-Financing Aggregator shall ensure that all gold doré purchased under any arrangement with an approved Offtaker is refined in Ghana before export,” GoldBod said in the notice issued on Monday, August 24.

The directive requires all offtake agreements between SFAs and approved Offtakers to expressly include the mandatory local refining requirement.

GoldBod said export requests would not be approved unless the gold had first been refined at a refinery approved or designated by the Board.

The cost of refining will be borne by the SFA or its approved Offtaker, depending on their commercial arrangement, and must be paid or settled before the refined gold is exported.

The Board has also given SFAs until Monday, August 31, to amend all existing offtake agreements to incorporate the new requirement.

For export approval, GoldBod will verify that the gold has been refined locally, applicable refining charges have been settled, and all assay, regulatory and export requirements have been met.

“Failure to comply with this directive, including the export or attempted export of unrefined gold contrary to this Notice, shall constitute a breach of the conditions of an SFA licence,” it said.

GoldBod cautioned that breaches could result in the refusal or suspension of export approvals, suspension or revocation of licences, administrative sanctions and other enforcement measures permitted under the Ghana Gold Board Act, 2025 (Act 1140).