Ghana-India Government Partnered To Set Up $25 Million Dollars Gold Refinery

Ghana government together with the Indian counterpart, have partnered to set up a gold refinery company worth $25 million dollars, in the West African country rich in natural resource Ghana.

The purpose of setting up the refinery is for gold to be refined in the country, and also create job for the individuals of the country mostly the youth.

Mr. George Mireku Duker, the Deputy Minister Of Lands And Natural Resources, said this on Thursday,4 November, during an interview with 3FM’s sunrise which is hosted by Alfred Ocansey.

“We are engaging to find how the gold would be maintained here to create job for the youth in this country”.

He also said ” by the end of November, we may commission the gold refinery. We were to commission it by the middle of November but from what they are telling me, they are almost 95% done. There are few touches that they are doing and also depending on the president’s schedule, we are hoping to commission it by the end of November 2021″.

He went on further to say “the percentage of ownership has time lines. The Indian government built everything and we provided them with 20%.
The 20% is our land but they built everything and that is our commitment”.

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“The Indian government own 80% . And we retain 20% of the refined gold…if bank of Ghana is buying the gold, it’s the cost of the refining of the gold that is what we will get 20%.
It is the cost of the refining that we get 20% and not the entire gold”.

He said the cost of the project is $25 million dollars which the Indian government is financing it solely.

Mr. George Mireku Duker again said, ” there is an arrangement for the project in five years time, there is an arrangement for renegotiation to get to 50%-50%.

We have space to renegotiate in another 6 years, we will have the opportunity to renegotiate to buy the entire shares”.

This comes as another milestone as Ghana is inching closer and closer, of processing most of the raw materials in the country to create more opportunities for the youth.

Is the brain-dream of the current president of Ghana. Nana Addo Dankwa Akufo-addo, that, most of the Ghana’s natural resources.the likes of Gold, Diamond, Cocoa, Timber, Bauxite, Manganese, and most of Oil.
To be process in the country to add more values to their values.

Before been exported to their various international markets, is been far too long of waiting for Ghana and Africa to start finding a way of processing our natural resources, as this will add more values to their values, and create jobs for the youth of the content of Africa,
This will further reduce our dependence on foreign donors.

Source: 3news.com