Former CEO of the Precious Minerals Marketing Company (PMMC), now GoldBod, Nana Akwasi Awuah, has proposed the formation of an African Gold Producers Association to bring gold-producing countries together and strengthen their collective ability to maximise the benefits of the continent’s gold resources.
Nana Awuah said the growing number of gold refineries across Africa presented an opportunity for producing countries to coordinate their efforts rather than pursuing domestic value addition in isolation.
His proposal comes after Burkina Faso commissioned its first national gold refinery on September 28, adding to the continent’s expanding refining capacity.
Mr Awuah argued that an African Gold Producers Association (AGPA) could help member countries develop common approaches to gold production, refining and marketing while strengthening their position in international bullion markets.
He said such cooperation would be important in ensuring that African countries “retain and maximise the benefits of this precious mineral for the people of their countries and the continent as a whole.”
Nana Awuah acknowledged that establishing a continental producers’ association could take time and proposed an interim approach through the creation of an African Gold Refineries Association (AGRA).
He said the proposed body could initially bring together refineries across the continent before eventually evolving into a broader association of gold-producing countries.
He said stronger cooperation among African refineries could also help create synergies around standards, technology, market access and value addition.
The proposal comes as African refineries increasingly seek to strengthen their ability to process gold locally, while accreditation to international standards remains an important consideration for access to established bullion markets.
“These African countries with gold refineries need to come together as a bloc,” Nana Awuah said.
“I believe the formation of an African Gold Producers Association (AGPA) is long overdue.”
He said the proposed continental coordination should form part of a broader strategy to ensure Africa captures more of the economic value from its natural resources instead of remaining primarily an exporter of raw or semi-processed minerals.
