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Ghana shifts artisanal gold exports from Dubai to Shanghai and India amid Middle East tensions, rising costs, and export challenges.
Ghana is rerouting its artisanal gold exports away from Dubai due to flight disruptions from Middle East tensions, which have grounded air traffic in the UAE.
With 80% of Ghana’s small-scale gold previously refined in Dubai, the state exporter GoldBod is exploring alternatives like Shanghai and India, though at higher costs.
The move comes as Ghana’s ASM gold output surged 63% last year to 96 metric tons, worth $15.8 billion, and the country faces growing pressure on its cedi due to reduced foreign exchange inflows.
Limited traceability in its mining sector restricts access to premium markets, increasing reliance on Dubai and India, while storage congestion and discounting in Dubai may lower export returns.
Ghana traslada las exportaciones artesanales de oro de Dubai a Shanghai y la India en medio de las tensiones en Medio Oriente, el aumento de los costos y los desafíos de exportación.