Ghana Increases Gold Sales to State to 30% as It Builds Reserves and Expands Domestic Refining Strategy Africa’s largest gold producer, Ghana, is increasing the volume of gold that mining companies must sell to the state as part of a broader strategy to strengthen foreign reserves, stabilise the national currency, and retain more value from its mineral resources. From July 1, large-scale mining companies operating in the country will be required to sell 30% of
Ghana Considers Local Takeover of Gold Fields’ Tarkwa Mine as Government Pushes to Boost Mining Revenue Ghana is considering transferring control of Gold Fields’ Tarkwa gold mine to local companies when its mining leases expire in April next year, as part of a broader strategy to increase domestic participation in the country’s gold sector and capture a larger share of revenues from elevated bullion prices. If the plan proceeds, Ghanaian mining firms would be required
Zimbabwe Licenses Second Gold Refinery in Bulawayo as Production Targets 50 Tons in 2026 Zimbabwe has approved the establishment of a second gold refinery to process and handle the country’s growing gold production, according to government officials familiar with the development. The new facility will be located in Bulawayo, Zimbabwe’s second-largest city, and is expected to be commissioned next year. Officials, who requested anonymity due to the sensitivity of the matter, said the project is
Mali Gold Mining Revenues Hit Record $1.57 Billion in 2025 Despite Production Decline Gold mining companies operating in Mali contributed a record 888.5 billion CFA francs (approximately $1.57 billion) to the state in 2025, marking a 6.4% increase compared to 835.1 billion CFA francs in the previous year, according to Ministry of Mines data reviewed by Reuters. The West African nation hosts more than 15 industrial mining operations controlled by multinational companies, including Barrick Mining,
Angola to Launch First Gold Refinery by End of 2025 as Government Expands Mineral Value Addition Strategy Angola is expected to inaugurate its first gold refinery before the end of the year, marking a significant milestone in the country’s efforts to increase local mineral processing and create greater value from its natural resources. The announcement was made by Minister of Mineral Resources, Petroleum and Gas Diamantino Azevedo during the opening of the Angola Oil, Gas
Ghana Seeks Larger Share of Gold Output for Central Bank Reserves as Talks with Miners Continue Ghana is seeking to increase the share of gold production sold to its central bank by large-scale mining companies as part of an expanded reserve accumulation programme aimed at strengthening external buffers and supporting currency stability. Under the revised proposal, industrial gold miners would supply 30% of their annual production to the Bank of Ghana in dore form, up
Angola Landslide Kills at Least 28 at Illegal Gold Mine, Exposing Rising Risks in Informal Mining Sector At least 28 people have died following a devastating landslide at an illegal gold mining site in Bengo Province, northwest of Angola’s capital Luanda, highlighting the growing dangers linked to the country’s expanding informal mining sector. The collapse occurred at an unregulated mining site where artisanal miners were extracting gold when the ground gave way. Provincial civil protection
Ghana Refuses Automatic Renewal of Gold Fields’ Tarkwa Mine Lease as 2027 Expiry Approaches Ghana has indicated that it will not automatically renew the mining lease for Gold Fields Limited’ Tarkwa mine, as the agreement approaches its expiration in 2027. The decision signals a broader shift toward stricter regulatory oversight of long-term mining concessions in the country. The Tarkwa mine, one of Gold Fields’ key assets in Ghana, produced approximately 427,000 ounces of gold in
Zimbabwe’s Mutapa Investment Fund Targets $250 Million Financing to Boost Gold Production Mutapa Investment Fund is seeking to raise $250 million to expand its gold mining operations as part of a broader strategy to strengthen Zimbabwe’s mining sector and increase output of one of the country’s key export commodities. The state-owned sovereign wealth fund, which controls Mutapa Gold Resources, has already initiated discussions with local financial institutions. The first phase of the financing plan involves
Sudan Relies on Gold Revenues as War Enters Fourth Year, Smuggling and Investor Shifts Reshape Sector Sudan’s gold industry is emerging as the government’s primary source of revenue as the country’s civil war enters its fourth year. Strong performance from artisanal mining and renewed efforts to attract foreign investment are reshaping the sector’s role in the national economy. The Sudanese Mineral Resources Company (SMRC) reported that revenues from artisanal mining reached 113% of first-quarter targets
