See also:
» 18.02.2010 - Ghana to host second IMF’s West African Centre
» 22.01.2010 - Ghana hosts Africa Investment Forum
» 13.01.2010 - Ghana gets €130 million from Germany
» 15.12.2009 - Invest in agriculture - Professor Offei
» 01.12.2009 - World Food buys gold mines in Ghana
» 24.11.2009 - $6 million to boost rural agricultural finance in Ghana
» 20.11.2009 - Ghana-EU sign first voluntary agreement on legal timber exports
» 21.10.2009 - Ghana and Burkina Faso urged to develop strategies on use of Volta River

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Economy - Development

A major boost for Gold mining in Ghana

afrol News, 7 July - Ghana is expected to establish a $15 million gold refinery project in the last quarter of 2009, C. C. Global Investments has announced in the statement.

The Chief Executive Officer of the company, Dr Mustapha Muradi said the refinery is expected to create more jobs for Ghanaians, while at the same time it is expected to be a major boost in the country’s booming gold industry.

He said despite the plan to hire more than 100 people, it will no longer be a hassle for mining companies to export the gold to foreign countries for refinery. “It can be refined in the presence of the owner and shipped as pure gold of about 99.99 per cent,” he stated.

Dr Muradi said the 97 per cent of the gold refined in Ghana would be exported to the European, Middle East, American and possibly the Asian markets, stating that, the remaining three percent would be left for the state.

He said a team of 21 engineers and technicians would be in Ghana for a month to train local personnel expected to work in the refinery, further stating that all the work would be done by locals although few foreign personnel would oversee the project.

According to Dr Muradi, Ghana was chosen to have a refinery due to the country’s political and economic stability. “There are other areas that have bigger gold in Africa, but they are not safe states. Liberia, Guinea and South Africa for instance have gold in abundance,” he said.

He said the company might extend its operations to jewelry manufacturing in the next few years, and would partner with local educational institutions in the country.

The project once completed is expected to refine over 300 kilogrammes of gold daily.

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