Gold Snub: Ghana Defies Trump, Xi | Firstpost Africa | Subscribe to Firstpost | N18G

Ghana, Africa's largest gold producer, has implemented a new sliding-scale gold royalty regime, linking state revenues to gold prices despite diplomatic pressure from the U.S. and China. Effective March 10, the policy replaces a flat five percent royalty, allowing rates to rise to twelve percent when gold exceeds $4,500 per ounce. Mindful of financial pressures and an IMF economic program, Ghana aims to enhance revenues through natural resources. Additionally, a similar royalty system will apply to lithium, with continued flat rates for other minerals. This shift reflects a broader trend towards resource nationalism in Africa.

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