Ghana’s push to earn more from its own gold is running into a wall of international resistance — and the diplomatic pressure being applied is being described as unprecedented in the country’s mining history.
Africa’s top gold producer is seeking to replace its fixed 5% royalty rate with a sliding scale ranging from 5% to 12%, tied to the prevailing gold price. The Mahama government argues the reform is overdue, particularly as gold continues to hit record highs on global markets.
But mining companies are pushing back hard, warning the top rate would make Ghana one of the most expensive places to mine on the continent. Ghana has already agreed to lower an existing levy as a concession, but companies say the proposed sliding scale remains too steep and have submitted their own lower alternative rates.
What has made this standoff unusual is who has now stepped in. The United States, United Kingdom, China, Canada, Australia, and South Africa have all formally intervened — their diplomatic missions jointly meeting Ghana’s Lands and Natural Resources Minister to raise concerns and presenting a shared document. The missions are also seeking further engagement with the Finance Minister.
One senior industry executive described the level of diplomatic engagement as something he had never seen before: “This is the first time I’ve seen the diplomatic community get involved at this scale.”
Chinese-owned operations have been particularly vocal. A formal letter from the Association of China-Ghana Mining, copied to Beijing’s ambassador, warned the royalty plan directly threatens the future of Zijin’s Akyem mine, Chifeng’s Wassa mine, and Shandong Gold’s Cardinal operations.
The pressure comes even as Ghana-based gold producers posted exceptionally strong results in 2025 — Newmont earned over $7 billion, Gold Fields more than doubled profits, AngloGold Ashanti tripled earnings, and Perseus recorded $421.7 million, up 16% year-on-year.
Ghana’s Lands and Finance Ministries had not responded to requests for comment at the time of publication.