🟡 Africa’s Top Gold Producer (Ghana) Cancels Long‑Term Deals & Hikes Royalties
Ghana — Africa’s leading gold producer — is overhauling its mining policy by canceling long‑term mining contracts and raising royalties to capture higher state revenue amid surging global gold prices.
Key Facts:
📜 Policy overhaul: Ghana has annulled existing long‑term mining stability agreements and plans to tighten mining sector rules.
💰 Royalty increases: New proposals could see royalties start around 9% and rise to 12% if gold trades above $4,500/oz — roughly double prior rates.
🛠️ Local content & control: Stricter requirements on local participation and content are being introduced to ensure more benefits stay within the country.
Expert Insight:
With gold prices elevated globally, Ghana aims to boost government revenue and economic sovereignty — but the tougher terms may raise concerns among foreign miners about investment certainty and operating costs.
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