Ghana orders miners to sell 20% of refined gold to central bank

Ghana orders miners to sell 20% of refined gold to central bank.

Ghana has ordered all large-scale mining companies to sell 20% of their entire stock of refined gold at their refineries to the Bank of Ghana from Jan. 1, 2023, Vice-President Mahamudu Bawumia said on Facebook on Friday.

Community mining schemes and licensed small-scale miners will also have to sell gold to the government, Bawumia said, without specifying how much of their reserves would be affected. Gold Fields said neither the Ghana Chamber of Mines nor its Gold Fields Ghana unit had been formally approached on Bawumia’s plan and it could not comment, though it added that it and other miners had already agreed to a gold purchasing programme with the Bank of Ghana.

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