Rand Refinery Joins Mining in Motion Summit as Silver Sponsor
Rand Refinery Limited, the world's largest integrated single-site precious metals refining and smelting complex, has joined the upcoming Mining in Motion 2025 Summit as a Silver Sponsor. The participation of Rand Refinery underscores the company's commitment to strengthening Ghana's gold sector and highlights a drive to fostering responsible gold mining, exports and processing practices.
Rand Refinery Limited plays a crucial role in driving the growth of Ghana's gold upstream sector, providing services such as smelting, evaluation, refining and recovery of previous metals. The company's largest shareholders operate some of Ghana's largest mines. Notably, AngloGold Ashanti operates the 268,000 ounce-per year (oz/y) Iduapriem mine and the 224 oz/y Obuasi mine, while Gold Fields manages the Tarkwa facility. Meanwhile, Rand Refinery has the exclusive rights to refine gold recovery company Goldplat's Ghanaian production. An agreement is in place whereby Goldplat has first right of refusal to process all Rand Refinery's by-products not suitable for its own refining process.
As Ghana maximizes the growth of its gold sector through collaboration with global partners, enhancing cooperation with investors such as Rand Refinery Limited is critical. The firm's participation at Mining in Motion demonstrates its dedication to strengthening relationships within the Ghanaian gold industry and to unlocking growing prospects within the upstream and downstream sectors.
Mining in Motion is organized by the Ashanti Green Initiative in partnership with the World Bank, the World Gold Council and other international stakeholders. The event brings together key decision-makers, including H.E. John Dramani Mahama, President of Ghana, alongside public and private sector leaders from the African Union, the Economic Community of West African States and the United Nations, to discuss the future of gold mining.
Stay informed about the latest advancements, network with industry leaders, and engage in critical discussions on key issues impacting small-scale miners and medium to large scale mining in Ghana. Secure your spot at the Mining in Motion 2025 Summit by visiting www.MininginMotionSummit.com. For sponsorship opportunities or delegate participation, contact Sales@ashantigreeninitiative.org.
Distributed by APO Group on behalf of Energy Capital&Power.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Post
5 days ago
- Arabian Post
Ghana's Credit Score Rises to ‘B-' as Debt Talks Progress
Fitch Ratings upgraded Ghana's long‑term foreign currency sovereign rating from 'restricted default' to 'B‑' on 16 June, accompanied by a stable outlook. The move reflects substantial progress in debt restructuring after the West African nation normalised relations with a large majority of its external commercial creditors. Ghana's economy endured its most severe crisis in decades, driven by collapses in its cocoa and gold sectors. The government's proactive restructuring of its debt burden laid the groundwork for this upgrade, with Fitch forecasting completion of external debt restructuring by the end of 2025. The 'B‑' rating places Ghana closer to investment‑grade territory and signals increased investor confidence. The stable outlook indicates that Fitch does not expect near‑term negative shocks to derail Ghana's fiscal consolidation. It reflects continued fiscal discipline and political commitment to structural reform following President John Dramani Mahama's inauguration in January. Finance Minister Cassiel Ato Forson has already implemented significant spending cuts, part of a broader strategy to restore macroeconomic stability and rebuild international credibility. These measures were reinforced by a similar move from S&P Global Ratings in May, which upgraded Ghana's foreign currency issuer rating to 'CCC+' from 'selective default'. Together, these upgrades underscore growing confidence in Ghana's recovery trajectory. ADVERTISEMENT Fitch's report highlights that servicing foreign currency debt—including domestic‑issued dollar bonds—is projected to consume around 1.2 per cent of gross domestic product in 2025, rising modestly to 1.4 per cent by 2026. Domestic currency interest costs for the same period are estimated at approximately 3.8–3.9 per cent of GDP, with total debt servicing ratios stabilising after peaking at 48 per cent in 2021. On the external front, Fitch projects Ghana's current account surplus, which peaked at around 4.3 per cent of GDP in 2024, will moderate to about 1.1 per cent by 2026 due to increased import demand and softer export commodity prices. However, inflation, which stood at 23 per cent in 2024, is expected to subside to around 15 per cent by the close of 2025 and further to 10 per cent in 2026, aided by a strengthening cedi and disciplined monetary policy. Fitch anticipates economic growth to remain robust at about 4 per cent in 2025, accelerating to approximately 4.5 per cent in 2026. This expansion will be driven by recovery in the agricultural sector—especially cocoa production—and continued momentum in the industrial and services sectors. Despite the positive assessments, Fitch has emphasised key risks that could undermine its stable outlook. Chief among these are renewed liquidity pressures, potential loss of confidence in Ghana's ability to refinance short‑ and medium‑term obligations, and strains on external reserves if the current account deficit widens unexpectedly. Investor sentiment is likely to sharpen its focus on Ghana's ability to fully deliver on its debt restructuring plan and preserve macroeconomic stability. As the country moves toward concluding bilateral and bondholder agreements by year‑end, the global market will be assessing not just the formal rating upgrade, but the implementation of structural reforms and fiscal prudence underpinning it. This credit progression carries implications beyond bond markets. It enhances Ghana's standing in international financial circles, potentially lowering its cost of future borrowing and attracting foreign direct investment. It also sets a precedent for other African nations navigating debt distress in the wake of global commodity and financial volatility.
Gulf Today
7 days ago
- Gulf Today
Dubai Chamber of Commerce supports expansion of IT firm AfroVision Technologies into Ghana
Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has supported the expansion of AfroVision Technologies, a Dubai-based information technology company, into Ghana. Dubai International Chamber's representative office in Ghana played a key role in facilitating this expansion by connecting AfroVision Technologies with On-Point Virtual Assistants, a Ghanaian company specialising in business process outsourcing. This collaboration culminated in the signing of a Memorandum of Understanding (MoU) between the two companies, thanks to the support provided by the chamber's Ghana office. Under the terms of the agreement, On-Point Virtual Assistants will represent the 'Doballi' platform in Ghana. Doballi is operated by the Dubai-registered company of the same name, which is a subsidiary of AfroVision Technologies. The agreement will see On-Point deliver training courses to IT students in Ghana, equipping them with the skills required for remote work. Upon completion, participants will be enrolled on the Doballi platform to take on remote employment opportunities. Doballi is a specialised digital platform that focuses on connecting tech talent with remote job opportunities. It enables companies to benefit from skilled professionals across the African continent in the field of information technology through a remote working model. Commenting on the partnership, Salem Al Shamsi, Vice President of International Relations at Dubai Chambers, stated, 'We remain committed to supporting the establishment of promising partnerships between Dubai-based companies and their counterparts around the world to drive sustainable business growth. In doing so, we are further strengthening the ability of local companies to expand globally and enhancing the competitiveness of Dubai's private sector.' Osita Oparaugo, Founder of Doballi, a company of AfroVision Technologies Limited, commented, 'We extend our sincere gratitude to the Dubai International Chamber office in Ghana for their invaluable support in advancing Doballi's mission to harness and onboard qualified tech talent from Ghana and across West Africa. At Doballi, we are dedicated to connecting expertly vetted African tech professionals with global opportunities, ready to work across all time zones. Our strategic focus on Dubai aligns with our broader business objectives and global outreach goals.' He added, 'Our recently signed Memorandum of Understanding (MoU) with OnPoint BPO, along with other partnerships currently underway, stand as a testament to our shared commitment to driving innovation and opportunity through collaboration.' WAM
Zawya
13-06-2025
- Zawya
Mahama bids farewell to United Kingdom (UK) envoy, discusses economy, security, regional ties
On Thursday, President John Dramani Mahama bid farewell to the outgoing British High Commissioner to Ghana, Harriet Thompson, expressing gratitude for her four-year tenure and emphasising key areas for ongoing Ghana-United Kingdom cooperation. Mr Mahama lauded the High Commissioner for her 'positive engagements' throughout her time in the country. He reflected on the long-standing historical relationship between Ghana and the UK, describing it as having been 'so far so good'. The president, however, emphasised the mutual need for deeper economic partnerships and trade moving forward. He also noted the dynamic changes in the global landscape, including the diminishing nature of traditional development assistance and the necessity for developing countries like Ghana to strategically reposition themselves. President Mahama also acknowledged the UK's significant support in counter-terrorism efforts, specifically commending cooperation in intelligence gathering and training. 'We appreciate the partnership we have shared in the fight against terrorism,' President Mahama stated. We will continue to rely on the UK for help and cooperation in intelligence gathering and training to prepare ourselves in the event of any attack.' Shifting to regional matters, Mr Mahama updated the High Commissioner on his recent proactive engagements with leaders in the Sahelian countries, including Mali, Burkina Faso, and Niger. He pledged further diplomatic efforts aimed at rebuilding trust and improving relationships with these neighbours. He announced that the upcoming ECOWAS meeting on Sunday – the first since he assumed office – would place the issues concerning the Alliance of Sahel States (AES) at the top of its agenda. 'I am going to have the opportunity to report to the rest of the ECOWAS leaders on trips I made to the three countries and share some of my perspectives about their grievances and how we can redefine relationships,' he told the outgoing envoy. On the domestic economic front, President Mahama provided an optimistic outlook, reporting progress with a strengthening Cedi, declining inflation, and renewed investor confidence. 'I am happy to report that it's going well,' he said, detailing the first quarter economic performance report. 'The first quarter report on economic performance indicates a GDP growth of 5.3 per cent, inflation has reduced from 23 per cent to 18 per cent since January, and we hope to bring it down to 13 per cent by the end of the year, so that should create some relief for Ghanaians in terms of the cost of living and we will continue to maintain fiscal discipline.' For her part, High Commissioner Harriet Thompson, who has served in Ghana for over four years, expressed her gratitude for the warm support and cooperation she received during her tenure. She also acknowledged the successful implementation of various British-sponsored interventions during her time. Distributed by APO Group on behalf of The Presidency, Republic of Ghana.
