Meet the Ghanaian company that minted the commemorative coins for Asantehene

History was made on Sunday, December 12, 2021, as the first-ever commemorative coins in Ghana were unveiled in honour of Asantehene, Otumfuo Osei Tutu II and his services to humanity.

The non-circulating coins are meant to immortalize the credentials of the Asantehene as a national peacemaker, especially, in tribute to his contribution towards the resolution of the Dagbon chieftaincy dispute.

Proceeds from the sale of the gold coins, which will be auctioned around the world, will be used to finance the construction of a cultural resort centre to promote the customary resolution of conflicts.

Each coin is made of 24-carat fine gold, with purity of 99.99% and weighing about 31.104 grams with a diameter of 37.00 millimetres.

One side of the gold coin bears the portrait of the Asantehene in the centre, flanked by some ‘Adinkra’ symbols signifying peace, harmony and reconciliation. The other side bears the image of the Golden Stool, Sikadwa Kofi, which is the highest symbol of peace in the Ashanti Kingdom.

As many around the world wait with great anticipation to lay hands on the commemorative coins, the spotlight is being cast on the company that minted Ghana’s first commemorative gold coins.

That company is Gold Coast Refinery Limited, which minted the commemorative gold coins in Ghana with authorization from the Bank of Ghana.

Gold Coast Refinery is the first state-of-the-art Gold Refinery in West Africa and the second-largest in Africa, with the capacity of refining up to 480kg of gold a day. It was established in 2016 as a subsidiary of the well-established Euroget Group.

The CEO of Gold Coast Refinery, Dr. Said Deraz believes the coins will help boost recognition for Ghana’s gold and push the country’s pursuit of economic development. He expressed gratitude for the opportunity granted his company to be part of such a historic endeavour involving no less a person than the Asantehene.

“We are honoured to be strategic partners with the Asantehene because he has very good reputation that transcends Ghana’s borders, and this gives us credibility when we invest in any African country,” Dr. Deraz said.

“Our main target is to support the good people of Ghana for their development and to reach their target to be one of the biggest countries, economically in Africa. Ghana of course is number six worldwide to produce gold and we don’t like to export our raw materials outside. We will like to add value to our raw materials. We aim to make Gold Coast Refinery one of the biggest in the world.”