Ghana will press ahead on Tuesday with a new sliding\u2011scale \u200cgold royalty regime that links state revenues to rising bullion prices, the head of the mining regulator has told Reuters, despite opposition from China, the U.S. and other Western governments as well \u200bas mining executives.<\/p>\n
Reuters reported\u00a0last week that the United States, China and several other \u200bWestern governments had mounted a rare joint effort to persuade Ghana \u2060to halt the policy \u2013 part of a wider push by African governments to \u200bcapture more value from surging commodity prices.<\/p>\n
The new royalty regime replaces the flat 5% \u200brate for Africa\u2019s top gold producer. Under the sliding-scale system, gold miners will pay 12% when gold hits $4,500 per an ounce, according to a framework reviewed by Reuters. Gold is currently trading above\u00a0$5,000 \u200bper ounce.<\/p>\n
Lithium royalties will also shift to a 5\u201312% sliding scale tied to \u200bprices between $1,500 and $3,200 per metric ton, while all other minerals keep a flat 5% rate.<\/p>\n
REGULATOR SAYS \u200cPOLICY HAS \u2060SUPPORT<\/strong><\/p>\n Isaac Tandoh, CEO of the Minerals Commission, said diplomatic missions had raised concerns about the top 12% royalty rate but had not opposed the broader policy shift.<\/p>\n \u201cThey met us, they are not against the review in principle,\u201d he said over the weekend. \u200bThe missions wanted \u200bthe 12% rate to \u2060kick in after gold hits $5,000 per ounce, but Ghanaian authorities rejected that proposal, he said.<\/p>\n CEOs of the world\u2019s top gold miners \u200bhave also opposed Ghana\u2019s planned sliding\u2011scale royalty regime, warning it \u200bwill choke \u2060future investment.<\/p>\n The Ghana Chamber of Mines has raised similar concerns, with CEO Kenneth Ashigbey telling Reuters on Sunday it would “dry up new projects and output.”<\/p>\n Tandoh said modelling showed the \u2060sliding scale \u200bstruck the right balance – boosting state revenue while \u200bpreserving industry margins – and dismissed fears Ghana was becoming uncompetitive, arguing investors care more about regulatory stability than \u200bmarginal cost shifts.<\/p>\n","protected":false},"excerpt":{"rendered":" Ghana will press ahead on Tuesday with a new sliding\u2011scale \u200cgold royalty regime that links state revenues to rising bullion prices, the head of the mining regulator has told Reuters, despite opposition from China, the U.S. and other Western governments as well \u200bas mining executives. Reuters reported\u00a0last week that the United States, China and several […]<\/p>\n","protected":false},"author":6,"featured_media":20111,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":12,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[32,2362,27],"tags":[396,158],"class_list":["post-20110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-featured","category-west-africa","tag-china","tag-ghana"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/20110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=20110"}],"version-history":[{"count":1,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/20110\/revisions"}],"predecessor-version":[{"id":20112,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/20110\/revisions\/20112"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/20111"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=20110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=20110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=20110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}