en.Wedoany.com Reported - Ghana plans to change its gold mining royalty from the current fixed rate of 5% to a tiered floating rate ranging from 5% to 12%, which will be linked to the international gold price. This proposal has triggered coordinated intervention from the governments of China, the United States, and other Western nations, with diplomatic missions from multiple countries urging the Ghanaian government to withdraw the proposed increase. According to informed sources and letters from industry bodies, mining companies have pointed out that unless the bill is amended or withdrawn, it could take effect as early as next week. Ghana is the largest gold producer in Africa.
In addition to China and the United States, the diplomatic missions of the United Kingdom, Canada, Australia, and South Africa in Ghana have also joined the intervention. Three senior mining executives described such a high-level international diplomatic reaction to a fiscal proposal as "extremely rare." A senior industry source said, "This is the first time I have seen the diplomatic community intervene on such a large scale in this type of matter." According to two people directly involved in the meetings, foreign envoys in Ghana met with the Ghanaian Minister of Lands and Natural Resources this month and submitted a joint statement outlining their concerns. The diplomatic corps is seeking further consultations with Ghana's Finance Minister. One executive stated, "The envoys are concerned that the operating environment for gold mines will become extremely difficult." All sources requested anonymity, and the relevant embassies and high commissions did not immediately respond to requests for comment.
Global mining giants have expressed their dissatisfaction through private channels. The CEOs of Newmont, Gold Fields, AngloGold Ashanti, and Perseus Mining submitted written opinions directly to Ghana's Minister of Lands between December last year and January this year. Chinese-backed mining companies, including Zijin Mining, Chifeng Gold, and Shandong Gold, have also formally lodged protests. A letter obtained by Reuters, sent by the Ghana Chinese Mining Association to Ghana's Ministry of Lands and copied to the Chinese Ambassador to Ghana, warned that the proposal could threaten the viability of Zijin Mining's Akyem, Chifeng Gold's Wassa, and Shandong Gold's Cardinal gold mines. "The royalty increase has united these competitors in an unprecedented way in recent years," the industry source said.
The Ghanaian government's move to raise the rate comes against the backdrop of strong performance by mining companies in 2025. Newmont's full-year profit exceeded $7 billion; Gold Fields' profit more than doubled; AngloGold Ashanti's profit tripled; and Perseus Mining posted a profit of $421.7 million, a 16% year-on-year increase. Currently, Ghana's Ministry of Lands and Ministry of Finance have not responded to Reuters' requests for comment.
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