Gold refinery firm established

A GOLD and silver refinery firm has now been established in the country. Known as Precious Metal Refinery, it is registered as a free zone company.

Mr Siegfried Sinner, German Managing Director of PMR, says: To own refinery is a step further independence for a gold producing country?

He gave the assurance that the company will produce pure gold and silver for local and the international market.

PMR has 33 staff at its office set up in last October. Hitherto, goldsmiths and local jewellery producers have had to import gold at cut throat prices to make jewellery that meets international standards. Ironical gold is exported from Ghana in its raw form to refineries elsewhere who process it at their own fees.

?For a country that is the second largest gold producer in Africa this situation is not only derogatory to the national image but a big financial blunder,? says Sinner.

As part of its objective, precious metal refinery looks to improve the balance of payments by buying most of the gold that otherwise would have found its way out of the country.

The company, one of only three in Africa, also collects wastes of photochemical solutions generated in hospital X-ray departments, photo labs and other radiographic institutes to be recycled into silver.

Over this one year period, PMR has created a niche for itself, delivering special services such as monitoring gold prices so as to inform the local industry about up-to-the-minute charges in world prices.

The company is also involved in the actual mining process, introducing specifically developed reports for the safe and economical burning of mercury, which plays a major part in the extraction of gold.