Major Nations Urge Ghana to Halt Gold Royalty Increase
Global powers are urging Ghana to halt a proposed gold royalty hike. Miners warn the new sliding scale of up to 12% could threaten their local operations.
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A coalition of global powers, led by China and the United States, has launched a coordinated diplomatic effort to persuade Ghana to abandon a proposed hike in gold royalties. The West African nation, which holds the title of Africa's largest gold producer, is seeking to transition from a fixed 5% royalty to a sliding scale between 5% and 12% tied to bullion prices. This move is designed to capture a larger share of revenue as gold prices continue to hit record highs.
