Ghana is tightening control over its gold sector, and it wants to strengthen national reserves while improving export oversight.
The government plans to raise the share of gold that large miners sell to the Bank of Ghana to 30%, and it aims to enforce this change through new negotiations.
Paul Bleboo told Reuters that officials want to increase the current 20% requirement and push it higher to 30%.
Authorities will require miners to deliver all gold in dore form, and this will help improve tracking and reserve management.
The government will reopen talks with mining firms, and it will push for revised terms under the new agreement.
As a result, Ghana expects to boost bullion reserves and improve transparency across the gold export chain.
Meanwhile, strong global demand for gold continues to rise, and policymakers are responding by securing more domestic supply.
Large-scale miners will feel the impact most, and they will face new obligations if the proposal succeeds.
In addition, negotiations continue between government and industry, and both sides have not yet agreed on pricing and discounts.
The Ghana Chamber of Mines confirmed that stakeholders still discuss the proposal, and they have not reached a final deal.
Gold Purchase Policy Shift
Previously, Ghana launched a bullion purchase programme in 2022, and it used this to stabilise the economy.
That programme required miners to sell 20% of their output to the central bank, and it set the foundation for today’s reforms.
Now, the government plans to increase that share to 30%, and it uses this as part of broader mining reforms.
Mining Royalty Reform
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At the same time, officials are reforming royalty rules, and they are replacing the fixed 5% rate with a sliding scale.
Under this system, royalty rates will rise when gold prices increase, and miners will pay more during price surges.
Furthermore, authorities include lithium and other minerals in the updated tax structure.
Global Market Pressure
Global gold prices continue to rise, and geopolitical tensions and economic uncertainty drive this trend.
Central banks around the world are also increasing gold holdings, and they use this strategy to diversify reserves.
Ghana produces about six million ounces of gold each year, and it maintains its position as Africa’s largest producer.
Gold contributes around 40% of Ghana’s export earnings, and it plays a key role in foreign exchange inflows.
However, Ghana still exports much of its gold with limited processing, and this reduces local value addition.
To address this, the country opened its first commercial gold refinery in 2024, and it aimed to expand domestic refining capacity.
A public-private partnership involving Rosy Royal Minerals and the Bank of Ghana operates the refinery, and the bank holds a minority stake.