Bright Simons, Honorary Vice President of IMANI Africa, has revealed startling details about the Royal Ghana Gold Refinery, a project touted as a major step in Ghana’s efforts to add value to its mineral resources.

Simons claims that the technical aspects of the refinery are being managed by a small, independent consultancy, Rare Tech, owned by Dr Sandeep Chadha, rather than the primary partner, Rosy Royal Minerals of India, raising significant concerns about the project’s legitimacy and operational capacity.

The Royal Ghana Gold Refinery, a joint venture between Rosy Royal Minerals and the Bank of Ghana—with the latter holding a 20% stake—has the capacity to refine 400 kilograms of gold per day.

However, in an interview with JoyNews' Kwaku Asante, Simons disclosed that the company allegedly responsible for partnering with the Ghanaian government does not have the technical or financial capacity to run such an operation.

According to Simons, "The company that it says is coming to partner with the Bank of Ghana to do this refinery work does not have the capacity at all. They run some quarries in a few states in India. It is a pretty small company."

Upon further investigation, Simons and his team at IMANI discovered that the actual technical work for the refinery is being conducted by a small consultancy based in New York and not by Rosy Royal Minerals itself.

"It turns out it is a small consultancy in India based in New York called Rare Tech. This is basically a one-man shop, owned by Sandeep Chadha," Simons explained.

This revelation suggests that the core technical operations of the refinery are in the hands of a single individual, raising concerns about the project's sustainability and the expertise being brought to the table.

On its website, the Royal Ghana Gold Limited says Dr Chadha is "responsible for running all facets of the business" and not Rare Tech. Dr Sandeep is referred to as the Chief Executive Officer (CEO) of the company.

Simons also pointed out that Rosy Royal Minerals, the supposed main partner in the venture, has no personnel directly involved in the operations of the refinery.

This further supports the notion that the actual technical and operational work is outsourced to an external party with minimal resources.

"We also find out that they actually don't have any personnel at the Royal Ghana Gold refinery," Simons said, highlighting the disconnect between the company’s supposed role and its actual involvement.

The implications of this arrangement are troubling, particularly given the high stakes involved in managing Ghana's gold resources.

Simons expressed concern that this setup could be part of a larger scheme to exert control over the Bank of Ghana’s Domestic Gold Purchase Programme.

"This is beginning to look like a scandal now. It looks like somebody had an intention to position this refinery as grand so they can put the Ghana Gold programme under it and use this as a mechanism to control the Purchasing Programme," he warned.

In light of these revelations, Simons urged the public and relevant stakeholders to scrutinize the Royal Ghana Gold Refinery project more closely. He emphasized the need for transparency and accountability, especially given the questionable nature of the technical and operational arrangements surrounding the refinery.

In conclusion, Simons' revelations cast significant doubt on the legitimacy and effectiveness of the Royal Ghana Gold Refinery, calling into question whether the project can truly deliver on its promises of adding value to Ghana’s mineral resources and boosting the national economy.

Per checks by The Independent Ghana, Sandeep Chadha is a member of the Rosy Royal Company Board, per the company's website, indicating some connection to Rosy Royal Minerals.

It is imperative to note that Sandeep Chadha has a tie with the Rosy Royal Company Board and not Rare Tech.

Profile of Sandeep per Rosy Royal Minerals

Sandeep is an MBA (Masters In Business Administration) degree from UNITED KINGDOM. He has a total work experience of 24 years in International business.

Mr. Chadha has also worked as Senior Trade Analyst cum Deputy Trade Commissioner for more than Eighteen years in New Delhi office of the ITALIAN TRADE COMMISSION (www.ice.it). He has a very rich experience in Corporate Affairs & International Business. He has a very deep and rich experience in the Italian Trade Commission, the trade promotion body of the Italian Government.

He has initiated and implemented various large projects in the field of Stone Sector, Automobile components, Leather, Textiles, Ceramics, Power & Infrastructure industries. The international experience helps Sandeep to work strategically on International and specially large sized Indo-European projects.

Rare Tech

Rare Tech, per its website, is one of India’s leading consulting firms with 28 years of excellence in strategy and management Consulting. We serve clients across India, Europe and Africa. We are a dynamic group of 15+ professionals led by Mr. Sandeep Chadha (MD) who has been with firm since inception, making it the India’s boutique consulting practice.

"Our sector expertise spans Precious metals (Gold Refineries); Mechanical Engineering, Automobiles, Pharmaceuticals/Chemicals, Consumer Goods and Retail, Infrastructure, Engineering, Metals, Building Industry (including Ceramics & Stone sector) and Healthcare."

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