Ghana, Africa’s largest gold producer, introduced a new price-linked royalty regime on March 10, 2026. The reform replaces the previous 5% flat royalty with a sliding scale that can rise to 12% when gold prices reach $4,500 per ounce. Authorities say the policy aims to increase government revenue amid strong bullion prices. According to the Ghana Minerals Commission, gold accounts for over 90% of mineral exports, while national output reached about 4.2 million ounces in 2023.
