Ghana Raises Gold Purchase Demand From Miners to 30%
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5 Articles
157 Tons by 2028: Ghana Pushes Miners to Triple Doré Deliveries to Central Bank
Ghana’s central bank is pushing its largest gold producers to hand over nearly a third of their annual output, raising the mandatory quota from 20% to 30% as Accra races to build reserves that still sit well short of its 2028 target. The three miners in the crosshairs — AngloGold Ashanti Plc, Gold Fields Ltd., and Newmont Corp. — have agreed in principle to the new threshold. The harder fight is over how much they get paid. Paul Bleboo, head of …
Ghana plans to increase to 30% the share of production of large gold mines sold to the central bank in order to feed local refineries and strengthen the country's foreign exchange reserves, said officials of the sector. The measure would cover unrefined gold, against sales currently made in refined form...
Ghana raises gold reserve demand on industrial miners to 30%
Kenneth Ashigbey isn't ready to sign. The chief executive officer of the Ghana Chamber of Mines told Reuters this week that negotiations over the central bank's push to raise its compulsory gold offtake from 20% to 30% of annual output remain unresolved, with pricing and discount terms still on the table.Ghana, Africa's biggest gold producer, launched the bullion purchase program in 2022 to rebuild foreign reserves after the country's worst macr…
Ghana Raises Gold Purchase Demand from Miners to 30%
NewsGhana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://www.newsghana.com.gh/ghana-raises-gold-purchase-demand-from-miners-to-30/Ghana plans to raise the gold output that mining companies must sell to the central bank from 20 percent to 30 percent, intensifying its drive to build national reserves and stabilise the cedi against global currencies. The Bank of Ghana (BoG) confirmed the revised target on Sunday in a Reuters di…
Ghana seeks to buy 30% of gold from miners to boost reserves
GHANA has raised the share of annual gold output that large-scale miners must sell to the central bank to 30%, up from 20%, though miners say key commercial terms remain unresolved. Paul Bleboo, head of the Bank of Ghana’s Gold Management programme, told Reuters on that the entire 30% quota should be delivered in doré form. Last year, industrial miners delivered roughly 10 tons against declared production of about 100 tons — around 10% against a…
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