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

Summary by Ground News

Ghana's government is planning a new policy where gold rather than U.S. dollar reserves will be used to buy oil products. The move is meant to tackle dwindling foreign currency reserves and demand for dollars by oil importers. Community mining schemes and licensed small-scale miners will also have to sell gold.

Published 2 months ago · Ghana

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Reuters

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.

2 months ago·United Kingdom

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Al Arabiya

Ghana orders mining firms to sell 20 percent of refined gold to central bank

Ghana has ordered all large-scale mining companies to sell 20 percent of their entire stock of refined gold at their refineries to the Bank of Ghana from

2 months ago·Saudi Arabia

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Business Live

Ghana mining firms ordered to sell 20% of gold stocks to central bank

The move is part of measures to operationalise a government plan to use gold to buy oil products announced on Thursday by the president

2 months ago·Johannesburg, South Africa

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Ghana Business News

Mining companies to sell 20% of refined gold to Bank of Ghana - Ghana Business News

The Minister of Lands and Natural Resources, Mr Samuel Abu Jinapor, has directed all large-scale mining companies to sell 20 per cent of their refined gold to the Bank of Ghana (BoG) effective January 1, 2023.

2 months ago

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