HISTORIC; UNVEILING OF FIRST HALLMARK GOLD IN GHANA

The story of gold production in the country can now never be completely told without the mention of Tuesday November 27, 2018.

It was on this day that the country’s first hallmarked gold was unveiled, birthing a new era in gold refining.

After several decades of mining gold and exporting same, Ghana finally, developed the competence to hall mark its own gold.  Hitherto, the country was exporting raw gold bars.

This feat means that henceforth refined gold bars from Ghana would have a special mark from the Ghana Standards Authority (GSA), testifying the quality of its content.

The benefits of this milestone are enormous; it would add value to Ghana’s raw gold resources and help address the low incomes derived from the export of raw gold.

At the same time, the new period would ensure proper account for gold exports from Ghana as the actual values of the gold would be established before it is exported onto the international market.

This is welcoming news since the gold sector plays a key role in the economy of Ghana through its contribution to the Gross Domestic Product (GDP) over the years.

Ghana toutes itself as the second largest gold producer in Africa and the 10th largest in the world and as a major gold producer it is timely that it diversifies its operations.

We congratulate the GSA for breaking the ceiling after many years and extend same to the Gold Coast Refinery Limited for being the first company to be licensed.

However, we find it unfortunate that our joy has been short-lived by a controversy over the mandate of the GSA to assay value and certify refined gold in Ghana for the international bullion market.

Dr Kwadjo Opare-Hammond, Managing Director of the Precious Minerals Marketing Company (PMMC) is on record to have said the GSA lacked the mandate in the minerals sector and this has been made very clear to them on several occasions.

We find the controversy needless and call on the two intuitions to get their acts together in the interest of the country.

After all, whatever feat has been achieved is for the country and not only for the GSA.

At this point in our country’s development, it is pertinent that intuitions collaborate to make the country proud and break more barriers in various sectors.

While this issue is being resolved, we urged the government to institute policy measures aimed at adding value to raw materials in the country so that the country can derive associated benefits.

Let us work together to put more feathers in the country’s cup.

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