Ghana is moving ahead with plans to reform its gold royalty system despite diplomatic pressure from Western governments and pushback from foreign mining companies. The proposal would replace the current fixed 5% royalty with a sliding scale ranging from 5% to 12%, linked to global bullion prices. Officials say the move is aimed at ensuring the country captures more revenue from its gold sector, especially during periods when global prices surge.
The plan has drawn resistance from international mining firms, which warn that the higher royalty could squeeze their profit margins, even after Ghana agreed to cut the existing mining levy by 2% to ease the reform. Still, the move reflects a broader shift across West Africa, where governments are increasingly seeking to renegotiate mining terms and secure a greater share of the wealth generated from their natural resources.
