Ghana's Gold Trade Seeks New Refining Hubs Amid Dubai Disruptions

Ghana's GoldBod is preparing to reroute gold exports to alternative refining hubs due to flight disruptions caused by Middle East conflicts. Despite current challenges, Ghana's artisanal mining has boosted gold production significantly. Potential new refining centers include Shanghai and India, although higher costs are anticipated.

Ghana's national artisanal gold exporter, GoldBod, is on alert as continued flight disruptions to Dubai force a reevaluation of gold export routes. The ongoing Iran conflict has halted most air transport to this key global trading hub.

With 80% of Ghana's artisanal mining output usually refined in Dubai, alternative destinations like Shanghai and India are being considered. However, concerns over increased transportation costs persist.

Despite these challenges, GoldBod reports a substantial increase in Ghana's official gold production, boosted by record-high bullion prices. Meanwhile, efforts to curb illicit gold flows continue amid the reshaping of formal supply chains.