…
as maiden certified gold bar unveilled
The first certification and unveilling
of the maiden hallmarked gold bar produced and processed in the country has
been held to promote trading of the commodity on the international bullion
market.
It is also to add value to the
country’s raw gold resources, as well as help address the low incomes derived
from the export of raw gold while properly accounting for gold exported
from the country.
Expressing excitement at the event, the
Minister for Trade and Industry, Mr. Alan Keremanten said: “The unveilling is
significant in the history of the country, and also marks the beginning of
a new era in our gold sector. It clearly exhibits the country’s commitment to
its industralisation programme, which is on course. It will help to change the
paradigm of development in this country and create jobs for our
teeming youth”.
He said the task of refining
gold to the purest quality by Gold Coast Refinery Limited is a highly
skilled process which will help to transfer Gold Coast Refinery expertise
in this field to Ghanaians, and that is how Ghana wishes to partner with
investors to promote business in this country.
He added that the gold sector is very
important to the economy because of its contribution to the country’s Gross
Domestic Products over the years. Indeed, trading hall-marked gold on the
international bullion market will be a remarkable achievement in the more
than 300-year old gold trade in the country.
He emphasised that the certification of
gold will promote the country’s commodity onto international bullion market,
and dealers will then accept it as credible and valuable to be negotiated for
and purchased.
Professor Alex Dodoo, Director-General,
Ghana Standards Authority (GSA), expressed delight at the Authority’s
contribution to the national economy by certifying purified gold in the
country.
He explained that certification of any
product, including precious metals like gold, is an established conformity
assessment activity that provides confidence to customers, regulators, industry
and other interested parties - to the effect that the product conforms with
specified requirements, including products performance, safety,
interoperability and sustainability.
Product certification facilitates trade,
market access, fair competition and consumer acceptance of products on national
and international levels.
“Globally, the certification and hall-marking
of gold is undertaken by national standards bodies, the leading agencies in
developing countries,” he said.
He indicated that the GSA has developed
and adopted over 10 national and international standards for gold, precious
minerals and jewellery, adding that the Authority currently has a world-class
gold assay laboratory equipped with state-of-the-art equipment comprising X-ray
Fluorescence Machine and all the requirements for fire assay analysis.
These methods are the only acceptable
ones world-wide in the assay of gold, he said.
He revealed that the GSA intends to
work with stakeholders to ensure that gold purified in Ghana is traceable and
of known province.
“These are exciting times in Ghana, and
GSA is pleased to be contributing its share toward a modernised and transformed
Ghanaian economy for a Ghana Beyond Aid.”
Chairman, Gold Coast Refinery Limited, Dr.
Said Deraz, expressed profound gratitude to government for its support - adding
that the refinery is a modern facility with state-of-the-art equipment and
machinery to produce the highest purity of refined gold.
It has the capacity to conduct
internationally acceptable assaying and produce Hallmarked Gold.
“With our plant size at full capacity
operation, we will be able to absorb the entire gold production in Ghana and
the sub-region of West Africa. This gives our operations a regional scope
and the potential to stage Ghana as a gold-hub in the sub-region,” he
said.
