Governor of the Bank of Ghana (BoG) Dr Ernest Addison has extolled the creation of a local gold refinery, Royal Gold Ghana Limited in Ghana. Dr Addison said the central bank can diversify and organically grow its foreign exchange reserves, as well as accumulate more refined gold reserves to reduce dependence on external borrowing. The presence of a local gold refinery will enable the production of gold coins and other artifacts which can act as a safe-haven asset, and will broaden investment options in the financial markets and contribute to financial stability, he said. Dr Ernest Addison said that gold is currently the leading export commodity with projected export earnings for 2024 estimated at close to US$10 billion. Its value chain presents immense opportunities for job creation, increased foreign exchange earnings, and economic development, he said.