Gold refinery to take off.

Gold refinery to take off.

by / Comments Off / 31 View / 20th July 2009

Ghana:

A $15 million refinery to process gold locally is said to take off by the last quarter of this year.

The refinery to be constructed by CC global investments at Spintex road in the capital, Accra is promised to be the biggest refinery in the West African sub-region.

Chief executive officer of CC global investments Dr Mustapha Muradi said the decision to set up the factory in the country is the result of the stable business and political environment which the country is enjoying.

‘Benefits to the state include job creation for Ghanaians and value addition to Ghana’s gold. Thus, instead of shipping the gold elsewhere to be refined, it can be refined in the presence of the owner and shipped as pure gold of about 99.99%,’ he stated.

The company, he said has business concerns in Dubai, USA, Saudi Arabia and a track record of contributing towards the socio-economic development of countries in which it operates, adding ‘we are coming to replicate our success story in other parts of the world’.

Muradi said 97% of the gold refined in Ghana would be exported to the European, Middle East, American and possibly the Asian markets, noting that, the remaining three percent would be left for the domestic market.  Over 300 kilograms of gold would be refined daily, he promised.

To equip Ghanaians with the skills needed for the project, he said a team of 21 engineers and technicians will be in the country for a one-month period to train those who would work with the company.