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March 10, 2026
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Ghana to introduce sliding-scale gold royalty regime on Tuesday despite international opposition
Money
Policy
Opportunity
Growth
Key Points
- Ghana will introduce a new sliding-scale royalty regime for gold mining on Tuesday, replacing the current flat 5% rate.
- The new policy links government revenue to global commodity prices, with gold royalties potentially reaching 12% when prices hit $4,500 per ounce (current prices are above $5,000).
- A similar sliding-scale royalty (5-12%) will apply to lithium, while other minerals maintain the existing flat 5% rate.
- Foreign governments and the Ghana Chamber of Mines have expressed concerns about the higher royalty rates, warning of potential negative impacts on investment and production growth.
- Ghanaian authorities have rejected proposals to adjust the 12% threshold, asserting that the new system balances increased government revenue with firm profitability and regulatory certainty.
Why This Matters
This new royalty regime is crucial for Ghana as it aims to significantly increase state revenues from its vital gold and lithium mining sectors, especially during periods of high global commodity prices. However, it sparks concerns about potentially deterring foreign investment and hindering future production growth, which could impact Ghana's economic stability and long-term development in a key industry.
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