Ghana, Africa’s leading gold producer and the world’s sixth largest, is preparing a revision of its mining code as authorities seek a bigger share of revenues amid a sharp rise in global gold prices.
Gold prices increased by more than 65% in 2025, prompting the government to propose higher fiscal returns from the sector. Under planned reforms, royalties could rise from the current 3–5% range to between 9% and 12%, depending on prevailing international prices.
The proposed changes come as Ghana faces mounting fiscal pressure. Public debt is estimated at US$55.1 billion, while gold export revenues reached approximately US$10.5 billion in 2025, reinforcing the government’s push to capture greater value from the country’s mineral resources.
However, the planned overhaul has raised concerns among foreign mining companies operating in Ghana, who warn that sharply higher royalties could affect investment attractiveness and long-term expansion plans.
The reforms place Ghana among a growing number of African resource-rich countries revisiting mining frameworks in response to high commodity prices and fiscal constraints, as governments attempt to balance investor confidence with national revenue needs.
